Manufacturing Industry
BAA reports 16% rise in six-month profits
Airline Industry Information, Nov 2, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
UK airport operator BAA has announced a 16% rise in earnings for the first six months of 2004, meeting its expectations thanks to cheap airfares encouraging a rise in passenger numbers.
BAA made a profit of GBP363m, up from GBP312m over the same period in 2003. BAA warned that the growth rate could not be sustained for 2005 but said that forecasts were still comfortable. Shares in the company were unchanged after the results were announcement.
The only surprise in the results was the GBP7m provision to offset any possible negative ruling in a legal dispute with the low-cost carrier Ryanair, reports Reuters.
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