Copenhagen Airports raises 2004 pre-tax profit guidance

Airline Industry Information, Oct 28, 2004

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

Danish airport operator Copenhagen Airports has increased its 2004 pre-tax profit growth forecast from 20% to 30% after its sales and earnings for the first nine months of the year were in line with expectations.

The company said that its pre-tax nine-month profits for 2004 totalled DKK597m, up from DKK489m over the same period in 2003. Sales increased to DKK1.867bn from DKK1.674bn in 2003. The new full-year forecast takes into account a Danish Supreme Court ruling in favour of the company in a lawsuit brought by the airline SAS.

Copenhagen Airports said that the increase in profits was down mainly to growth in passenger traffic due to the market's recovery from the SARS outbreak and the end of the Iraq war. Passenger traffic was up 8% over the same period 12 months ago to 14.6m, reports AFX.

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