Auckland Airport shares fall on weaker forward guidance

Chief executive Carrie Hurihanganui says NZ has some catching up to do after being one of the last countries to reopen its borders. (Image: Auckland Airport)

Dan Brunskill

Thu, 18 Aug 2022

Auckland International Airport has comfortably beat its own profit guidance with a net loss of just $11.6 million in the year ended June 30, thanks to a fourth-quarter travel boom.However, shares in the company dropped almost 3% after the result as investors absorbed profit guidance for the 2023 financial year, which was lower than some had expected.Analysts at Macquarie said in a preview last week that they were forecasting a net profit of about $71m, “well below Bloomberg consensus of $141m”.Jarden had a similar prediction at abou...

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