Sydney Airport profits rise

Airline Industry Information, Oct 20, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

Sydney Airport has announced a 20% rise in profits for the first quarter of 2004 due to strong passenger growth and improved retail facilities at the airport.

The airport's majority shareholder Macquarie Airports said that in the two years it has owned the airport it has seen nine quarters of double-digit growth despite the volatile nature of the aviation market over that time. Earnings for the airport before interest, tax, depreciation and amortization in the quarter ended 30 September grew to AUD117.9m compared to AUD98.1m in the same period in 2003.

Macquarie Airports also has a stake in Bristol and Birmingham airports in the UK as well as in Rome's two airports. According to reports the company is now interested in Zaventum Airport in Brussels, Belgium with a controlling interest likely to cost EUR500m. Macquarie Airports' CEO Kerrie Mather said that any decision was now in the hands of the Belgian government, reported Dow Jones.

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