Strong Growth in Profitability Marks Positive Year for ARI
Aer Rianta International (ARI), the airport retail and investment company owned by the Dublin Airport Authority (DAA), has announced a 40% increase in profits after tax for 2010, a period also marked by a number of significant trading highlights.
Profit for the year to December 2010 amounted to €18.8 million, compared to €13.4 million, pre exceptional items, the previous year. ARI’s managed turnover, incorporating sales across all operations including management contracts and associate companies, rose by nearly 18% to €954 million last year.
“ARI benefited from higher sales at most locations during the period reflecting an improved global economic environment and increased passenger spend,” said ARI, Director General, Eamon Foley.
“We also enjoyed a strong contribution from record passenger volumes at Dusseldorf Airport in Germany, where ARI holds a 20% shareholding.”
One of the highlights of the year for ARI was the opening of its joint venture operation in Terminal 3 at Indira Gandhi International Airport in Delhi, the company’s first move into the Indian subcontinent.
“We operate 4,000 sq metres of retail space in Delhi under a 15-year contract and we have been very pleased with its performance to date where sales were strong and the spend per passenger exceeded targets set for the year,” Mr Foley noted.
“We were also delighted by the achievement of our North American division in securing the coveted “Retailer of the Year Award” at Cannes for its newly-designed stores in Montreal and by our operation in Cyprus, CTC/ARI Airports Limited, capturing the “Best Marketing Campaign of the Year by a Retailer” Award, also at Cannes for their World Cup Adventure Campaign at Larnaca and Pafos Airports.
“These prestigious Frontier Awards represented a fantastic tribute to the hard work and professionalism of our colleagues in ARI and the depth of the relationship we enjoy with our joint venture partners and host airports,” he added.
ARI manages airport retailing operations in North America, the Caribbean, Eastern Europe, Russia, Ukraine, Cyprus, India and the Middle East where the company extended a number of contracts during 2010, including Bahrain Duty Free, Muscat Duty Free, Oman Duty Free and Qatar Duty Free.
ARI is a wholly-owned subsidiary of DAA, which owns and operates Ireland’s three largest airports, Dublin, Shannon and Cork.