MAG reports fifth year of strong growth in FY2016

MAG reported (13-Jul-2016) its fifth consecutive year of strong growth in FY2016 ended 31-Mar-2016, with a 12.0% year-on-year increase in EBITDA to GBP317.7 million, driven by record passenger numbers and new route development. Details as follows:

• Revenue: GBP778.8 million, +5.5% year-on-year;
• • Aviation: GBP387.4 million, +2.3%;
  • Retail: GBP143.8 million, +7.1%;
  • Car parking: GBP137.6 million, +12.4%;
• EBITDA*: GBP317.7 million, +12.0%;
• • Manchester: GBP146.5 million, +6.3%;
  • London Stansted: GBP133.0 million, +16.2%;
  • East Midlands: GBP21.0 million, +7.1%;
  • Bournemouth: GBP1.7 million, -15.0%;
• Net profit*: GBP126.3 million, +49.5%;
• Passenger numbers: 51.9 million, +7.0%;
• • Manchester: 23.5 million, +5.4%;
  • London Stansted: 23.2 million, +11.0%;
  • East Midlands: 4.5 million, -2.2%;
  • Bournemouth: 0.7 million, stable;
• Total assets: GBP3282 million;
• Cash and cash equivalents: GBP0.3 million;
• Total liabilities; GBP1693 million. [more - original PR]

*Before significant items

MAG: "As the country enters a new era, we will be working closely with the rest of our industry to ensure that once we leave the EU the UK remains a member of the European single aviation market. At no point have the excellent international air links that this country's airports provide been more vital to the nation's future prosperity and economic growth," Charlie Cornish, CEO. Source: Company statement, 13-Jul-2016.