Annual Report and Accounts 2010-11 - Manchester Airport

Notes to the Consolidated Financial Statements for the year ended 31 March 2011 512. Business and geographical segments continued2010RevenueManchester Manchester East Midlands Bournemouth Humberside Other and ConsolidatedAirport Airport Group Airport Airport Airport consolidationDevelopments£m £m £m £m £m £m £mExternal sales 256.2 23.2 49.7 10.6 6.8 2.4 348.9Inter-segment sales 0.1 2.7 – – – (2.8) –Total revenue 256.3 25.9 49.7 10.6 6.8 (0.4) 348.9ResultSegment profit before exceptional items 60.0 15.2 9.7 (0.3) (0.7) (27.8) 56.1Other informationSegment assets 1,146.9 (Note 1) 282.3 104.4 22.1 43.3 1,599.0Segment liabilities (527.7) (Note 1) (99.5) (18.4) (12.8) (171.5) (829.9)Capital expenditure 37.7 (Note 1) 2.9 17.6 0.3 16.4 74.9Depreciation 50.6 0.8 7.7 0.7 0.7 0.6 61.1Taxation charge/(credit) 3.9 (Note 1) 3.3 0.6 1.0 (0.1) 8.73. Profit from operations2011 2010£m £mTurnover 350.2 348.9Wages and salaries (64.4) (63.2)Social security costs (6.0) (5.9)Pension costs (7.6) (8.8)Employee benefit costs (78.0) (77.9)Depreciation (64.2) (61.1)Loss on disposal of property, plant and equipment and investment properties (0.4) (0.6)Other operating charges (Note 1) (156.3) (153.2)Profit from operations before significant items 51.3 56.1Pensions credit (Note 2) 42.6 –Profit from operations 93.9 56.1(Note 1) Other operating charges includes maintenance, rent, rates, utilities and other operating expenses.(Note 2) The significant pension credit relates to a credit to the Income Statement relating to a past service cost gain. This gain was a resultof the Government announcement in June 2010 that local government pension increases will link to the Consumer Price Index rather thanRetail Price Index.The Manchester Airport Group PLC Annual Report and Accounts 2010-11