Manchester Airport Plc produces £100 million dividend

Thursday, 7th October 2010

Manchester Airport Plc has produced a dividend of £100 million for 2010. This is more than twice the dividend the airport generated in 2009. As a result the Greater Manchester councils will be able to share £20 million of this between them while the remaining £80 million pounds will be ploughed back into the facility.

The annual accounts for Manchester Airport Plc have just been released. Covering the year to 31 March, 2010, they reveal that the annual dividend has risen significantly from the £47.3 million generated in 2009. This is despite the fact that both income and profits have changed little since 2010. This year, the company saw income of £282 million pounds, compared to £286 million pounds in 2009. Pre-tax profits of £46 million pounds are unchanged from last year.

Manchester City Council holds 55 per cent of Manchester Airport Plc. As a result, it will get £11 million. The remaining nine councils in Greater Manchester will each receive one million pounds. The airport will hang on to £80 million for reinvestment. The biggest chunk of income, £131 million, came from aviation. Retail concessions generated £59 million, car parking £34 million, and property £29 million. £28 million of turnover was attributed to ‘other’ business.

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