Birmingham Airport have released their financial results for the year ended 31 March 2011
While turnover dropped 0.8%, the inevitable consequence
of the prolonged "volcanic ash" closure in April 2010
combined with the challenging economic conditions, the
Airport Company reported a strong recovery in profits as
the benefits of last years restructuring start to come
through to the accounts
Paul Kehoe, Birmingham Airport's CEO, said, “While pre-tax
profits increased year-on-year, it continues to be a tough
period for the aviation industry. Extreme weather and
volcanic activity impacted operations and, although
revenue remained flat, good stewardship through
tight cost control saw profitability improve"
"Despite passenger numbers being down in 2010/11, we
have continued to invest heavily in infrastructure, including
our "One Terminal" facility and a host of new commercial
offerings. Work also continues on a new air traffic control
tower, which is under construction, and
the runway extension project"
“We expect the immediate future to be tough as the
industry continues to face difficult economic conditions.
However, the performance of a number of our airlines,
including the likes of Emirates and Lufthansa, indicate
growth is returning to some sectors. We are seeing a
return of the business passenger, but the discretionary
leisure market - which is now the bulk of our
traffic - remains weak"
Birmingham Airport Holding Limited
Financial highlights year ended 31 March 2011
£'000
Turnover 2010/11 - 103,275
Turnover 2009/10 - 104,127
Profit after tax 2010/11 - 5,276
Profit after tax - 2009/10 - 0,592
Passenger numbers 2010/11 - 8,524,876
Passenger numbers 2009/10 - 9,019,783
.
Cargo in tonnes 2010/11 - 21,215
Cargo in tonnes 2009/10 - 15,968
.
Friday 29 July 2011