Auckland Airport expects to record higher asset values in annual earnings
The investment property portfolio is expected to have increased by about $57 million over the year.
Hot Topic
Hawke’s Bay
Auckland International Airport [NZX: AIA] expects to record a higher value for its assets when it reports annual earnings later this month.
The airport company expects the value of its buildings and services, runway, taxiways and aprons assets within the property, plant and equipment portfolio to increase by about $109 million when it reports earnings for the year ended June 30, along with a revaluation expense of $12 million, it said in a statement. It last valued the assets for the 2011 financial year.
The investment property portfolio is expected to have increased by about $57 million over the year, including a $6.3 million gain recorded in the first half earnings, it said.
The airport is scheduled to report its annual earnings on Aug. 24. The company will probably post annual underlying earnings of $175 million, up from $170 million the year earlier, according to a Reuters poll of analysts.
The company's shares slipped 0.4% to $5.20, and have gained 23% so far this year.
(BusinessDesk)
Tina Morrison
Fri, 14 Aug 2015
Fri, 14 Aug 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Auckland Airport expects to record higher asset values in annual earnings
50517