Million pound Christmas present from airports group to Rochdale Council
Date published: 11 December 2014
Manchester Airport
Rochdale Council has received an early Christmas present thanks to Manchester Airport’s soaring fortunes.
Manchester Airports Group (MAG), which is partly owned by Rochdale Council and the other nine Greater Manchester councils - has announced its financial figures for the six months to 30 September and the council has received a windfall of £1million.
Pauline Kane, Rochdale Council Director of Finance, said: “On 11 December, we received an interim dividend payment of £1 million from our 3.22% shareholding in the Manchester Airport Group. No decisions have been made at the moment regarding the use of this funding.”
MAG revenues rose 8.1 per cent from £390m in 2013 to £421.4m, while underlying pre-tax profits were up 8.7 per cent from £168.3m to £182.9m.
It is the first time MAG has paid a dividend at the half-way mark of its financial year, with £46m having been paid out in July for the previous full 12 month period.
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