Manchester Airport Group (MAG) has seen cargo income increase by seven per cent to £22.7 million ($29.8 million) with group volumes up 4.8 per cent due to new routes and online shopping.
The group saw revenue between 1 April 2015 and 31 March 2016 increase by 5.5 per cent to £778.8 million. Among the group’s airports, Manchester Airport saw a 6.8 per cent increase to £395 million, Stansted Airport was up 5.1 per cent to £285.6 million, East Midlands Airport rose by 1.3 per cent to £60.2 million, while Bournemouth Airport increased by 1.8 per cent to £11.3 million. Total income for the year across the group was £134.7 million.
East Midlands handled over 300,000 tonnes and DHL is spending £90 million expanding its logistics hub facility on site while Stansted handled over 240,000 tonnes during the year.
MAG chief executive, Charlie Cornish says the results stand it in good stead following the UK voting to leave the European Union (EU). “MAG’s business strategy has a long-term focus with resilient foundations. This will stand us in good stead to respond to any adverse consequences that may be felt by the UK economy following the country’s decision to the leave the EU.”
“Our strategy to drive top-line growth, improve efficiency and broaden our mix of business will continue and in the coming year we will ensure that we remain focused on delivering further profitable growth.”
The group has been helped by new routes, with services from Manchester to San Francisco, Boston, Phuket and Mauritius, and more recently, Beijing. Stansted has benefitted from flights to Orlando, Cancun and Las Vegas while cargo traffic at East Midlands has been driven by DHL.
MAG Property has benefitted from deals including the £130 million Airport City Manchester China Cluster scheme alongside Hainan Airlines’ Manchester – Beijing flights. Amazon plans to occupy a 654,000 square foot fulfilment centre at the Airport City, which will generate up to 1,500 jobs.