Christchurch airport posts H1 net profit of NZ$7.4m

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New Zealand's Christchurch International Airport Ltd (CIAL) has recorded a net profit after tax of New Zealand dollars (NZ$) 7.4 million ($6.17 million) for the six months to 31 December 2012.

The airport's total revenue for the first half of its fiscal year increased by 7.9% year on year to NZ$59.6 million. This growth was largely because of increased property and commercial revenues. As a result of lower passenger numbers, aeronautical revenue grew by 0.7% compared with the same period last year.

CIAL's earnings before interest, taxes, depreciation and amortisation during the July-December 2012 period rose by 5.2% to NZ$33.1 million compared with the same period last year.

Total passenger numbers for the period decreased by 2.3%, compared with the same period last year. International passenger movements fell by 7.9%, while domestic passenger movements declined marginally by 0.4%.

"The six months to December 2012 saw fewer passenger movements over the same period last year," says Jim Boult, chief executive of Christchurch airport.