Company behind Manchester Airport sees half-year revenues soar to £543m

Manchester Airport Group Investments Limited has this morning (December 7) announced half-year revenue growth of 12.7%.

In the six months to September 30 2017 the company, which owns Manchester, London Stansted and East Midlands Airports, saw revenues climb year on year by £61m to £543m.

The company’s adjusted EBITDA for the period grew 8.6% to £236.6m, while adjusted operating profit stood at £164.8m, an increase of 9.6%.

The half-year also delivered passenger growth at Manchester Airport with 16.6m people passing through its terminals, in comparison to 15.2m during the six months to September 30 2016. August was the busiest month in the airport’s 79-year history.

Among the period’s highlights was the start of construction work on the £1bn, 10-year Manchester Airport Transformation Programme, which saw Galliford Try awarded the apron and airfield contract and Laing O’Rourke handed the contract for extension of Terminal 2.

Once complete, the development is forecast raise the airport’s annual capacity to 45m passengers and create over 1,500 jobs.