Manchester Airport Group (MAG) said its revenue rose 8.7% to £889.4 million and adjusted EBITDA increased 5.9% to £379.8 million in the year to March 31.

Group passenger numbers rose 4.9% to 61.8 million across its three UK airports.

But MAG warned that continuing Brexit-related uncertainty is creating a “more challenging outlook for the group in terms of economic growth and passenger demand.”

MAG owns and operates Manchester, London Stansted and East Midlands airports and is privately managed on behalf of its shareholders — Australian investment fund IFM Investors (35.5%), Manchester City Council (35.5%) and nine other Greater Manchester councils (29%).

MAG said it invested £591 million, a 73% increase over the previous year.

MAG CEO Charlie Cornish said: “MAG continues to play a vital role in connecting different parts of the country to key global markets.

“The investments we are making in our facilities will allow them to play an even bigger role in the years to come.

“We are matching that capital investment with a focus on the experience that every one of our passengers has as they travel through our terminals, something we are looking to make as smooth as possible.

“By improving international connectivity to different regions, MAG airports will do far more to secure economic growth and rebalancing across the UK than a third runway at Heathrow will.

“The Government must now show an active commitment to supporting the future growth of airports like Manchester, London Stansted and East Midlands.

“To achieve this, the Government must support the delivery of better transport links to airports across the country as part of an integrated plan to grow global connections from the North, Midlands and the South.

“We welcome the Government and EU’s commitment to maintaining vital air connectivity between the UK and Europe even in the event of a ‘no deal’ Brexit, something which allows passengers to book and travel with confidence.

“But continued uncertainty about Brexit will ultimately act as a drag on the economy and damage consumer confidence.

“It is vital that the Government finds a political solution to Brexit over the coming months to enable the country to move forward and to rebuild consumer confidence.”