NEW ZEALAND. Auckland International Airport Limited today announced a strong set of interim results for the six months ending 31 December, with retail playing a key role.
Retail revenue increased in the period by +12.9%, up to NZ$54.8 million (US$40.8 million). This was largely due to recent investment in the retail environment at the airport’s international departures area and an increase in marketing activity and customer choice, said AIAL.
The company said it was “highly confident” of surpassing its goal of NZ$105 million (US$78.2 million) in retail revenue for the full financial year, with a “significant uplift in spend evident as stores are established in new locations".
Among the new tenants that opened in the six months to December 2010 were Icebreaker, Moët, Apple, Swatch, MAC cosmetics, and a new temporary Rugby World Cup store.
New tenants opening in the next six months include Zarboin airside food & beverage and KFC, Silk Road and new bars in an expanded landside food & beverage range.
Total revenue for the six months to 31 December increased by +8.7% to NZ$198.2 million (US$147.6 million), with earnings before interest, taxation, depreciation, fair value adjustments and investments in associates (EBITDAFI) at NZ$151 million (US$112.4 million) for the six-month period, an increase of +9.2%.
Underlying profits after tax hit NZ$61.5 million (US$45.8 million), a rise of +14% compared to the previous year.
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