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Stansted ups profits for owner Manchester Airport Group
Manchester Airport Group (MAG) lifted earnings by 2.8 per cent to £242m in the last financial year, with the group benefitting from improving trends at Stansted Airport, which it acquired in February 2013.
Passenger numbers were up 4.3 per cent at MAG airports to 43.8m, with Stansted seeing positive increases in passenger numbers after years of decline.
Stansted, London’s third busiest airport with passenger numbers of around 18m a year, will have its terminal redeveloped, with £40m invested by MAG, and retailers adding up to £40m more.
Neil Thompson, chief financial officer at MAG, said: “The significant activity at Stansted and across MAG this year will generate continued strong performance and growth in 2014-15 and beyond.”