Auckland Airport lifts annual profit, expects growth on pricing changes

Auckland International Airport lifted annual profit 27% with growth from domestic and international passengers, and expects underlying earnings growth in 2018. Net profit rose to NZ$332.9m in the year ended June 30, from $262.4m a year earlier, the company said. Underlying earnings advanced 17% to $247.8m on a 9.7% revenue lift to $629.3m, while expenses rose 8.8% to $156.2m. The company expects underlying profit for 2018 between $248m and $257m, which would deliver underlying earnings per share growth of up to 3.7% compared with the 2017 financial year's underlying EPS of 20.8 cents, and would include the impact of its new aeronautical prices introduced in the financial year. "The 2017 financial year was another strong year of growth right across our business with the company continuing to focus on upgrading its airport infrastructure, growing and supporting tourism and providing the best possible customer experience during a time of significant change," chair Henry van der Hayden said.<br/>