Malta International Airport has reported a 13% jump in profits in the first half of the year.

It said in a statement today that the profit for the period was €4.48 million compared to the €3.96 million of the same period of 2011.

The company's turnover for the was marginally higher than the same period in 2011 at €22.71 million (Jan to June 2011 – €22.67 million).

Revenue from aviation fees represented 71.9% (2011- 72.6%) of the total revenue of the company whilst the Retail and Property segment was 27% (2011- 25.7%) of the total revenue.

Staff costs decreased from €4.5 million to €3.7 million (18%) due to a reduction in staff as a result of early retirement schemes implemented in 2010 and 2011. Other operating costs went up from €8.8 million to €9.3 million (an increase of 5.8%).

The Board of Directors noted with satisfaction that the restructuring plan of the home carrier, Air Malta, as submitted by the government had been approved by the European Commission. " This decision augurs well for the airline as well as for the future prospects of additional traffic to Malta," it said.

The company said it it revising its forecast in so far as passenger figures for 2012 to  +1.5% over 2011. This amounts to some 3.56 million passengers.

Dividends

The company is proposing a net interim dividend of €0.03 per share on all shares settled as at close of business on Monday 30th July 2012 and payable by not later than Monday 10th September 2012.

The interim financial statements are available for viewing at the registered office of the company and on the company's website www.maltairport.com.