UK. London Gatwick Airport’s retail income rose by +9.7% in the year ended 31 March 2014, easily outstripping passenger growth of +4.8% to 35.9 million.
Net retail income per passenger increased by +4.2% to £3.72, boosted by sustained investment in shopping and food & beverage facilities, the benefit of a full-year’s trading by the World Duty Free Group flagship store, and 33 new retail units opened during the period.
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Total turnover rose +10.2% to £593.7 million with EBITDA (pre-exceptionals) up +14.2% to £259.4 million (see table). This resulted in a profit of £57.5 million compared to a loss in the financial year ending 31 March 2013 of £29.1 million.
London Gatwick CEO Stewart Wingate said: “Gatwick’s record performance and growth to around 36 million passengers this year demonstrates how we are successfully competing in the London market and why we are best-placed to deliver the UK’s next new runway.
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“Airlines and passengers are increasingly choosing to fly from Gatwick and this growth is expected to continue. And despite getting busier and handling growing numbers of passengers, we remain the top London airport for passenger satisfaction.
“Expansion at Gatwick would ensure London can effectively compete with its European neighbours and provide essential air links that the UK needs to both established and emerging markets.
“A two runway Gatwick would provide London and the UK with two world class airports and enable businesses to thrive and the economy to grow. It is, without a doubt, the obvious solution to creating the best future outcome for airlines, passengers and UK Plc, enabling more people to fly each year to the widest range of short and long haul destinations on more competitively priced fares.”
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Above and below: Heavy investment in food & beverage and retail has paid off with strong growth in spend per passenger and overall net retail income |
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Source: London Gatwick Airport |
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Source: London Gatwick Airport |
