Southport Aerospace Centre had a good year in 2005-2006. That was the focus of this morning's annual general meeting.

Revenues were up 12.6 per cent over last year, and financial performance was higher in nearly every area.

CEO Barry Feller points to a combination of factors leading to the improvement. Finalizing the flight training contract, doing well with their residential properties, and keeping expenses down were some of the factors.

A plan to expand residential properties with 55 + life lease and assisted living was unveiled as well. Feller notes the national change in demographics led to the decision to proceed.

Board Chair Arnie Cavett calls it a satisfying year, adding things have never looked better for Southport.