While profit for the year to June 30 was down on last year's after-tax net profit of $23.4m, the airport had an increased operating revenue of $89.9m, up 5.6 percent on the $85.1m last year, the company said at its annual meeting yesterday (Wed).
Passenger numbers were up fractionally at 5.9 million.
The airport, t hree-quarters owned by the Christchurch City Council and the rest by the Government, is the country's second largest airport.
Terminal design cost write-offs and falling property market values had hurt the company's after-tax profit, said airport chairman David Mackenzie.
"On the up side, the airport actually had a small increase in passenger numbers, unlike many other airports."
Trans-Tasman tourism numbers dramatically increased over the last year and increasing number of them coming through Christchurch, particularly Australians on skiing holidays , was a major cause of the relatively stable passenger numbers, he said.
Operating performance (ebitda) at $55.5 million was 5.2 percent up on the previous year, excluding the revaluation of investment property.
The dividend payout was $12.9 million, but Mr Mackenzie said that the dividend paid post financial year end would reflect the lower profitability of 2008/09.
The company invested $31.9 million in airfield, terminal, car parking and property projects.
It wanted to address volatility of aeronautical income and was actively working to diversify and grow its commercial business operations to provide more stable sources of income, he said.
Over the last year, the airport had consulted with airline customers over integration with the domestic terminal.
About $208m is being spent on revamping the international and domestic terminals.
Major projects under way or soon to start include the new terminal, a new regional facility for turbo-prop aircraft, and a $9.5m development of retail shops in the international terminal.
Earlier this month the airport opened its new $6m icecream cone-shaped 45m-high control tower, the tallest in the country.
