Fletcher contracted to expand Auckland Airport.
Results out in February show that Auckland Airport’s revenue was up 11.6%, net profit was 18.6% (it rose to $115.8 million in the six months ended 31 December from $92.8 million in the year prior), and its dividend was up 16.4%.
The company plans to spend up to $260 million this financial year to expand facilities.
Effectively as Auckland airport celebrates its 50th anniversary, Fletcher is undertaking a $180 million expansion to the international departures’ area.
The new international departure project almost doubles the size of the present primary international departure processing zone, passenger lounge and retail hub. The three distinct spaces it comprises include a new and expanded security screening and processing area and a new passenger lounge and retail hub.
The project is a key step in the airport’s 30-year vision to build an “airport of the future”, with the capacity to accommodate 40 million passengers a year by 2040, from 16 million today. The next stage will be the development of the combined domestic and international terminal.
Designed by US architectural firm Gensler in partnership with Jasmax, the new international departure area reflects New Zealand’s natural beauty and cultural heritage.
A major part of the redevelopment will be in retail, which is a lucrative part of the company’s business. Protecting the revenue streams of the existing duty free stores is particularly important. 
