Aer Rianta posts 33% fall in profits for 2001

Aer Rianta today posted 33 per cent decrease in after tax profit for 2001. The company blamed the results on "the difficult trading environment in 2001".

Profits, before exceptional items, amounted to €30.8 million for the 12 months to December 2001, while turnover for the period rose by there per cent to €438 million.

Group profit, after tax and exceptional items, was down to €11.6m reflecting the company said the impact of restructuring costs amounting to €23.4m.

The company said the majority of its profits came from airport retailing, commercial activities, overseas activities and the Great Southern Hotels.

Aer Rianta chairman Mr Noel Hanlon, said: "2001 was a challenging year for the company with both the foot and mouth crisis and the terrorist attacks impacting on the company’s operations."

Mr Hanlon said: "Despite this, more than 18.5 million passengers travelled through the airports at Dublin, Shannon & Cork representing a 3 per cent increase on 2000 figures".

Aer Rianta said: "Despite a difficult economic climate in 2001, Dublin Airport’s passenger numbers rose by 3.5 per cent to 14.3 million passengers."

Profits at the hotel chain dropped by more than one third last year, but Aer Rianta International saw its full year profits rise 10 per cent to €13.3m, accounting for over 40 per cent of group profits.