Malta International Airport plc – Interim Condensed Consolidated Financial statements and Directorsâ

July 28, 2011
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

Malta International Airport plc – Interim Condensed Consolidated Financial statements and Directors’ Report

Malta International Airport plc announced that during the meeting of the Board of Directors held on Wednesday, 27 July 2011, the Group’s interim financial statements for the six months ended 30th June 2011 were approved.

The Group’s Profit before tax increased from EUR 5.64m to EUR 6.28m, a rise of 11.4 per cent. Revenue also increased, amounting to EUR 22.66m in 2011, compared to EUR 22.18m in 2010. The directors commented that “the positive results achieved during the first six months of the year will continue in the second half of the year albeit at a reduced rate. Nevertheless Malta International Airport expects passenger movements for the full year 2011 to reach 3.4 million in 2011, an increase of 3.2% over 2010.” Regarding the slight increase in turnover, the directors stated that “revenue from aviation fees has not increased in proportion to the passenger number due to higher incentive schemes that are expected to be paid for the first six months of 2011 and the reduction in revenue from aviation concessions due to the reduction in fuel handling user fees.”

The Directors have also approved a net interim dividend of EUR 0.03 per share (gross EUR 0.0461538) equivalent to EUR 4,059,000 for payment on all shares settled as at close of business on Monday, 8 August 2011, and payable by not later than 15 September 2011.

To view the official announcement, Click Here.

To view the Interim Financial Statements, Click Here.