Auckland International Airport, New Zealand's biggest gateway, posted a 5.5 per cent increase in first-half profit on passenger growth and said full-year earnings would be "at the higher end" of its guidance.
Net profit rose to $69 million, or 5.22 cents a share, in the six months ended December 31, from $65.5 million, or 4.99 cents a year earlier, the company said in a statement.
Sales rose 8.9 per cent to $215.9 million, while expenses climbed 15 per cent to $54.5 million, which it said largely reflected work ahead of the Rugby World Cup.
The biggest single contribution to the gain in revenue was from retailing, where sales rose 13 per cent to $61.8 million. Revenue from airfield income, passenger services and terminal services charges combined rose 6.6 per cent to $95.5 million and the company flagged further increases to fund development of a new domestic terminal.
The airport company has diversified from its core Auckland airfield business, developing its land holdings to accommodate a hotel, retailing, offices and airport services, and investing in airports in Queenstown and Queensland.