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Auckland Airport profit flies up 10% for 2013

Auckland International Airport (NZSE: AIA) announced its full-year 2013 earnings today, edging up its top line while pocketing more profit than the previous year. The company’s revenue clocked in at $448.5 million, up 5.1% from 2012 numbers. Top-line sales were supported by a 3.6% increase in passenger movements to 14.5 million.

On the bottom line, total after-tax profit came in 25% higher at $178 million, while underlying after-tax profit increased 10% to 155 million. For income investors, 2013 was a good year. The company expanded its dividend 14% to $0.12 per share.

“Auckland Airport has had another 12 months of strong performance which has provided solid returns to our investors in spite of continuing challenges in the marketplace,” said Chair Joan Withers in a statement today. “Whilst we have seen some reductions in certain routes, our investment and work with our airline partners has resulted in a number of international and domestic airlines announcing new capacity and additional flights.”

Looking ahead, Auckland Airport expects 2014 after-tax underlying net profit to clock in between $160 million and $170 million, although it warned that volatile global economies could still pull profits down in the year to come.

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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.

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