Manchester Airport group H1 revenue tops £540m

Manchester Airport Group Investments Limited (MAGIL) on Tuesday publishes its financial statements for the half year ended September 30, 2019, showing revenue rose 7.3% to £540.6 million and operating profit before significant items up 18.5% to £199.6 million.

Manchester Airports Group (MAG) is the operator of Manchester, London Stansted and East Midlands airports.

Manchester Airports Group 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%).

During the half year, passenger numbers increased 2% to 36.4 million, driven by record numbers at Manchester Airport which grew 4.8% to 17.4 million.

As at September 30, 2019, the group’s total listed bonds in issue stood at £1.46 billion.

A final dividend of £128 million was paid in July 2019 for the year ended March 31, 2019.

An interim dividend of £71.3 million is due to be paid in December 2019.