During the meeting of the Board of Directors of Malta International Airport plc held on Wednesday, the Group’s interim financial statements for the six months ended 30 June 2011 were approved.

The Group’s turnover for the period is €22.7 million (Jan to Jun 2010 – €22.2 million) which is 2.2% higher than the turnover for the same period last year. Revenue from aviation fees has not increased in proportion to the passenger number due to higher incentive schemes that are expected to be paid for the first six months of 2011 and the reduction in revenue from aviation concessions due to the reduction in fuel handling user fees. Staff costs have decreased from €4.7 million to €4.5 million (3.4%) due to a reduction in staff as a result of an early retirement scheme introduced in 2010. Other operating costs went up marginally from €8.5 million to €8.8 million (3.2%).

The profit for the period is €3.96 million, up by 11.3% compared to the same period of 2010 (January – June).

In so far as traffic figures are concerned, the positive results achieved during the first six months of the year will continue in the second half of the year albeit at a reduced rate. Nevertheless, as already announced, Malta International Airport expects passenger movements for the full year 2011 to reach 3.4 million in 2011, an increase of 3.2% over 2010. This forecast is taking into consideration the fact that home carrier Air Malta is still undergoing a restructuring process. The Company will continue to monitor the situation on an on-going basis, however, it does not expect this process to affect the passenger flows of 2011.

Dividends

The Group is proposing a net interim dividend of €0.03 per share on all shares settled as at close of business on Monday 8 August and payable by not later than 15th September 2011.