Financial performance
25% COMMERCIAL BUSINESS NOPAT UP ON PRIOR YEAR
Airways Group delivered NOPAT of $23.6 million in line with plan
Core business slightly under performed largely due to revaluation losses on long term leave liabilities driven by falls in long term interest rates
Capital investment of $46 million is behind plan but in line with pricing commitments to customers
Commercial business outperformed with strong contributions coming from all business units
NOPAT ($M)
REVENUE ($M)
30
300
239.1
23.6
23.4
235.0
22.9
224.5
41.2
38.8
34.8
20
200
6.4
7.6
8.0
197.9
196.2
189.7
10
100
16.5
15.6
15.8
0
0
2019 Actual
2019 Budget
2018 Actual (1)
2019 Actual (2)
2019 Budget
2018 Actual (2)
CORE BUSINESS
COMMERCIAL BUSINESS
1. The $4.3 million net gain on sale of Queenstown land has been excluded from 2018 NOPAT, otherwise NOPAT equates to net surplus after taxation in the Group Statement of Profit or Loss and Other Comprehensive Income 2. 2019 revenue includes internal revenue of $9.8 million (2018: $10.1 million) eliminated in the Group Statement of Profit or Loss and Other Comprehensive Income.
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