MIA profits soar

Malta International Airport saw its profit soar by 26 percent to reach €3.32 million after tax in the first six months of this year when compared to the same period last year.

"This significant improvement in the results of the Group is largely due to the increase in traffic during the period," MIA said.

Turnover for the period was €20,127,325 (Jan to Jun 2007 – € 18,408,805) which was 9.3% higher than the turnover for the same period last year.

Passenger throughput increased by 14.5%, aircraft movements by 4.3%, cargo traffic by 7.1% and mail by 3.5%.

Staff costs increased by 5.4% from € 4,197,673 to €4,422,710 whilst other operating costs amounted to €7,446,264 (Jan to Jun 2007 – € 7,215,174) an increase of 3.2% over the operating costs for the same period last year.

Sky Parks Ltd, which from March 1, 2008 took over the running of the main car park at the airport generated revenues of €184,881 and a profit before tax for the period of € 16,247.

The Group is proposing a net interim dividend of €0.06 per share on all shares settled as at close of business on Thursday 31st July 2008.