Strong International and Domestic Demand Drives a 21% Increase in Fiscal 2016 Underlying Earnings
Auckland Airport reported fiscal 2016 statutory net profit after tax of NZD 262.4 million, up 28% on 2015. Excluding one-offs, underlying NPAT increased 21% to NZD 212.7 million, slightly higher than our NZD 208 million estimate. Underlying EPS was also up 21%. The firm declared a fully imputed final dividend of NZD 9 cents per share, bringing the full-year dividend to NZD 17.5 cents, implying a 98% payout ratio. The strong result was driven by a 9.1% increase in passenger numbers, with internat...Auckland International Airport provides airport facilities and supporting infrastructure in Auckland, New Zealand. Co. and its subsidiaries have three reportable segments: Aeronautical, which provides services that facilitate the movement of aircraft, passengers and cargo, and provides utility services that support the airport; Retail, which provides services to the retailers within the terminals and provides car parking facilities for airport staff, visitors and passengers; and Property, which is engaged in the rental of space on airport land outside the terminals including cargo buildings, hangars and stand-alone investment properties.
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