Auckland Airport beats profit guidance

Chair Patrick Strange said the 2022 financial year had been a “year of change and revival” for the airport as it coped with covid-19 lockdowns and the gradual restart of international travel. (Image: Getty)

Dan Brunskill

Thu, 18 Aug 2022

Auckland International Airport reported a profit of $191.6 million in the year ended June, driven by a $204m increase in the valuation of its property portfolio. The airport also reported underlying profit, which excludes unrealised gains and losses from property or currencies and better represents cash earnings. This resulted in a loss of $11.6m, smaller than the $25m to $50m range the company had forecast and analysts had forecast, and narrowing from the loss of $39.4m in the prior year.Reported net profit was down 59% at $191.6m, t...

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