Malta International Airport posted a pre-tax profit of €19.46 million for the financial year ended December 2012, up from €18.92 million the year before.

The results reflected a higher volume of traffic and strict control over group costs

Total income net of tax amounted to a record €12.46 million, up from €11.9 million, or 4.71 per cent, over the previous year.

Revenue grew from €52.4 million to €52.8 million.

Although there was an increase of 4.1 per cent in the number of passengers, revenue from the airport segment dropped to €38.3 million from €39.2 million but the retail and property segment yielded €14.1 million, up from €12.6 million.

Earnings before interest, taxation, depreciation and amortisation increased by 4.05 per cent to €25.8 million from €24.79 million while the margin rose from 47.28 per cent to 48.84 per cent.

The results reflected a higher volume of traffic and strict control over group costs in a business environment that had a high level of fixed costs, the company said.

Operating costs were marginally lower than those of 2011. Utility costs went up to €3.1 million from €2.8 million, building and equipment maintenance costs rose to €1.71 million from €1.53 million and the marketing bill grew to €2.83 million from €2.53 million.

MIA also reported marginal increases in other operational costs such as legal and professional fees, rents payable, charges for service to people with reduced mobility, staff costs and security fees.