Christchurch Airport grows retail revenue

General CopyrightChristchurch International Airport (CIA) has today reported a significant lift in financial performance in financial year 2015.

CIA announced underlying net profit after tax up +110 per cent to $37.8 million and total declared dividends up +171 per cent to $20.6 million.

It grew total operating revenue +21.9 per cent to $159 million, with non-aeronautical revenue up +9.7 per cent to $90.7 million, and aeronautical revenue notching a +43.2 per cent increase to $68.3 million.

Despite the recent slashing of customs allowances for duty free purchases of tobacco in  New Zealand and Australia, CIA grew passenger spend rates in the terminal by +4.2 per cent in the year.

The airport also introduced a number of customer driven enhancements to increase the choice and range of cost options for airport users needing car parking.

CIA last week completed the extension of JR Duty Free’s concession contract out to the middle of 2023 on the back of the retailer’s strong performance to date, with positive customer feedback and mutually agreed growth aspirations over the coming years.

CIA CEO, Malcolm Johns, welcomed the results and paid tribute to the airport’s staff.

“Our team has kept us at the top of independent customer experience surveys for airports across Australia and New Zealand, which means we’ve been there for three years in a row now, something we are all very proud of,” he said

“We are very focused on continuing to enhance our retail offerings to our visitors and working hard to keep increasing the range of product and purchasing choices available to airport users across our whole product range.

“Airport visitors can expect to see us continue to innovate in this area and to see new choices announced over the next year.”

The new retail development, the 6,100sqm Spitfire Square, has been completed, and the Countdown supermarket is open. “We will see the other outlets open progressively over coming months,” said CIA chairman, David Mackenzie.

CIA reported a more than seven per cent increase in international passenger movements for the year to 1.45 million, with domestic passenger movements increasing +3.3 per cent to 4.48 million.

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