MIA said today that its profit grew by 16.5% in the first six months of the year.

The company said that passenger throughput during the first six-months of the financial year increased by 10.3%, aircraft movements increased by 7.9%, and cargo traffic went up by 7.3%. The Group's turnover for the period was €22,186,118 (Jan to Jun 2009 - €20,555,892) which was 7.9% higher than the turnover for the same period last year.

Revenue from aviation fees increased by €1.5 million due to the increased number of passengers. There were also increases in non-aviation revenues of €156,200 mainly from increased revenue from rental of property, car parking and recharges. Staff costs have increased marginally from €4,503,719 to €4,694,087 (4.2%). Other operating costs went up from €8,002,522 to € 8,534,357, (6.6%). This increase was mainly due to increases in the electricity costs due to the introduction of higher rates.

The depreciation charge for the first six-months of the year decreased marginally from €2,697,281 to €2,635,010 (-2.3%).

The post-tax profit for the period was €3,556,591, up by 16.5% compared to the previous six-month period.

The Group is proposing a net interim dividend of €0.03 per share on all shares settled as at close of business on Monday 9th August 2010.

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