Christchurch Airport: strong 1H2014 operating performance driven by revenue growth

New Zealand's Christchurch International Airport Limited (CIAL) chairman David Mackenzie reported (17-Sep-2014) the company's total operating revenue has increased by 10% to NZD130.7 million (USD106 million) and EBITDAF grew by 11.7% to NZD72.5 million (USD59 million) for the year ending 30-Jun-2014. Mr Mackenzie advised the completion of its newly integrated terminal investment will result in the application of 2014 full-year depreciation and financing charges of NZD7.5 million (USD6 million) in total. However, CIAL recorded a year-on-year net profit increase of 3.5% to NZD18 million (USD14.6 million) in 1H2014 due to a strong EBITDAF performance. CIAL also recorded year-on-year passenger traffic growth of 3.5% during the six-month period. Mr Mackenzie stated a further investment of NZD28.8 million (USD23 million) to capital expenditure will result in on-paper growth that is expected to continue through to 2015. [more - original PR]