Aer Rianta lifts pre-tax profits 13% to £42.4m

WITH income swelled by almost 12 million passengers travelling through its three airports, a 13 per cent increase, Aer Rianta has maintained its strong profit growth. Pre-tax profits for 1996 advanced 13 per cent to £42.4 million.

There was strong growth across all the airport authority's operations, but the danger of losing duty-free sales within the EU is evidenced by over one-third of group sales of £231 million coming from this source. Aer Rianta International, which includes various duty-free outlets around the world and airport management contracts, had sales of £251 million.

Dublin Airport had a surplus of £37.9 million, with £24.5 million coming from commercial activities and £13.4 million from airport operations. A record 9.1 million passengers passed through the airport and August 3rd was the busiest day in the airport's history with 43,000 passengers. Duty-free sales totalled £58.7 million and record one-day sales of £339,000 were notched up on March 1st last year.

Shannon Airport had a surplus of £2.38 million, with £1.88 million coming from commercial activities and £500,000 from airport operations. A record total of 1.74 million passengers used the airport and all routes out of Shannon showed an increase over 1995.

July 27th last year was Shannon's busiest ever day with 16,764 passengers using the airport. The Shannon duty-free shop had a 13 per cent rise in sales to £12.1 million, while the catering division had an 8 per cent increase in revenue to £11.5 million.

At Cork Airport, a 16 per cent rise in passengers to 1.1 million was the main factor behind a £2.4 million in revenues, with £2.5 million from commercial activities countering a £83,000 loss on airport activities. Duty-free sales were 23 per cent higher on £6 million.

Aer Rianta International had managed turnover of £251 million and for the first time had higher turnover than the parent group. Consultancy revenues were £10,6 million, with pre-tax profits of £7.9 million. Aer Rianta is now the fifth largest duty-free company in the world and last year made its most strategic investment to date when it combined with venture capital group Natwest Ventures to buy a 40 per cent stake in Birmingham Airport.

Great Southern Hotels continued to grow, with turnover up 11 per cent to £21 million, while profits were 18 per cent higher on £2.7 million.