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Auckland Airport says on path for record profit

By NZPA

Monday 18th November 2002

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Auckland International Airport said at its annual shareholder meeting today it was on path for a record profit.

It said international passenger movements in the four months to October 31 were 4.6 percent ahead of the previous year, while domestic passenger movements were 5.3 percent ahead.

Revenue for the four months rose 13.1 percent to $74 million and the surplus after tax rose 20.2 percent to $25.25 million ahead of the same time last year.

The year-end result would be affected by an increased interest charge relating to $214 million of borrowing associated with the capital repayment, but the board said it was confident of a record profit in excess of last year's $71.5 million.

"Obviously our outlook for the remainder of the year needs to be qualified in respect of any adverse international events, outside the control of the company, which could impact on our performance," chairman Wayne Boyd said.

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