Kerry Airport profits increase despite grant cut

KERRY Airport managed to increase pre-tax profits by 17% despite the withdrawal of a €400,000 government marketing grant.

The company’s latest accounts for the year to October 31, 2007 have been circulated to shareholders in advance of the agm on June 20 in the Earl of Desmond Hotel.

Operating profits at the airport fell to €315,868, down €144,048 as a result of the withdrawal of the grant from the Department of Transport. A massive cut in capital expenditure to just €24,594, from €804,546 in 2006, enabled the company to remain in the black.