Stansted Airport generated £245.1million in revenue and £88.9m in earnings during its first full year as part of Manchester Airports Group (MAG), according to annual results announced today.

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The figures, covering the year to March, show the acquisition of Stansted in January last year helped push total group revenue to £671.2m.

Excluding Stansted, turnover for the group, which also owns Manchester, East Midlands and Bournemouth airports, grew by £33m to £426.1m, a rise of 8.4%.

Group earnings excluding Stansted grew by 9.6% to £153m and, with Stansted included, to £241.9m while operating profit excluding one-off items and the contribution from Stansted came in at £83.9m, an incease of 11.4%.

Passengers numbers excluding Stansted grew by 5.4% during the year, ahead of the market as a whole.

Stansted contributed 18m to the group-wide passenger total, its highest figure for two years. This represented annual growth of around 3.4% although month-on-month increases were regularly significantly greater as the year progressed, with MAG agreeing new deals with a number airlines operating from Stansted and starting work on an £80m reconfiguration of its passenger terminal.

Neil Thompson, chief financial officer at MAG, said: “The group has delivered another strong year of financial performance, exceeding its financial targets and delivering continued growth.”

He added: “The initial integration of Stansted into MAG has been successfully completed and the wide-ranging development and investment into the airport is well underway.

“The significant activity at Stansted and across MAG this year will generate continued strong performance and growth in 2014-15 and beyond.”

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