Queenstown Airport full-year profit falls 7% on tax-case charge, sales climb 27%

Mon, 22 Aug 2016

By Jonathan Underhill Aug. 23 (BusinessDesk) - Queenstown Airport Corp, New Zealand's fourth busiest airport, posted a 7 percent decline in full-year profit after recognising a charge related to the loss of a tax dispute, while growth in passenger numbers drove up revenue. Profit fell to $7.8 million in the year ended June 30, from $8.3 million a year earlier, and included a non-cash provision of $2.6 million related to its adverse tax ruling. Underlying profit rose 27 percent to $10.5 million, matching a 27 percent gain in revenue to $31...

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