Manchester Airport investment company reports passenger and profit growth

Manchester Airport Group Investments Limited (MAGIL), from the company that owns and manages Manchester, Stansted, East Midlands and Bournemouth airports, saw steady growth in the six months to September 30.

The company’s EBITDA rose to £201.9m from £182.9m during the same period in 2014, an increase of 10.4%, while its operating profit rose by 15.7% to hit £138.2m.

Elsewhere, MAGIL’s revenue for the half-year period grew by 5.7% to £445.5m.

Of the firm’s four airports, Stansted reported the highest year-on-year growth in passenger levels, at 10.6% while Manchester’s figures rose by 4.5% and Bournemouth 0.7%. Only East Midlands Airport saw its passenger levels decline (by 6.5%)

Earlier this month, Manchester Airport’s passenger rolling annual passenger levels rose above the 23m mark for the first time in its 77-year history.

Overall passenger growth stood at 5.7%, with 29.7m people using MAGIL’s airports over the six months, with bosses attributing the increase to the introduction of 31 new routes across the company’s four sites.

The period also saw the unveiling of the Manchester Airport Transformation Programme, a £1bn, 10-year phased project to upgrade the airport’s facilities.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →