Profits at Shoreham Airport are more than three times the figures predicted.

During the last financial year the airport, which is one of the oldest in Britain, made a surplus of £82,675, airport chairman Mike Middleton told Brighton and Hove councillors last night .

The airport is owned jointly by Brighton and Hove Council and Worthing Council.

For many years it made a loss and there were frequent calls from councillors to see it transferred to the private sector.

But Coun Middleton told members of the policy and resources committee it was now doing well.

The profit had been caused mainly by an increase in flying activity and was much higher than the forecast of £23,410.

Shoreham Airport committee has agreed that the money should be invested in making further improvements.

Coun Middleton said: "This recognises the need to assist in funding future development at the airport."

He added that the airport, which helps fund hundreds of jobs, was important to the local economy.