Thursday, March 22, 2012

M.I.A. plc reports 11% rise in profit in 2011

Malta International Airport p.l.c. has reported a pre-tax profit of €18.92 million in 2011, an increase of 11.5% over 2010 (€16.97 million). The company said that passenger traffic increased by 6.5% over the record year figures of 2010.

As a result of this increase in passenger traffic, revenue increased from €51.34 million to €52.43 million. The revenue from the aviation sector increased from €38.39 million to €39.20 million whilst the Retail and Property sector increased from €12.46 million to €12.62 million.

The operating costs of the Group were maintained at the 2010 level. Staff costs decreased by 10.5% or €0.94 million mostly as a result of early retirement schemes initiated in previous years. However, a new retirement scheme was initiated in 2011 costing approximately €1 million. (Source: timesofmalta.com)