Manchester Airport Group reports 28% reduction in profits in 12 months to Mar-2010

UK's Manchester Airport Group, the UK's second largest airport operator and the country's largest UK-owned airport operator - with Manchester, East Midlands, Bournemouth and Humberside airports - reported the following financial/traffic highlights for the 12 months ended 31-Mar-2010 (Manchester Evening News, 29-Jul-2010):

• Revenue: GBP348.9 million, a 6% year-on-year reduction;
• Operating profit: GBP56.1 million, -28.4%;
• Pre-tax profit (before exceptionals): GBP45.6 million, -18.9%;
• Net debt: GBP347.6 million, +8.3%;
• Passenger numbers: 23.9 million, -12%;
• Cargo volume: 409,300 tonnes, -5%.

Manchester Airport Group: "The outlook for MAG is positive but challenging. Economic recovery in the UK and Europe has begun but is likely to be initially slow," Mike Davies, Chairman. Source: Manchester Evening News, 29-Jul-2010.