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Earnings rise for Sydney Airport
Sydney Airport’s earnings rose 6.1 per cent in 2005/06, helped by commercial business growth at Australia’s biggest airport.
Sydney Airport Corporation Ltd chief executive Russell Balding said continued investment in all the airport’s business had led to another solid performance in the period.
“Growth in Sydney Airport’s commercial business has continued to underpin the earnings growth,” Mr Balding said. “Significant ongoing investment is planned over the next five years to cater for the next phase of Sydney Airport’s growth.”
“Sydney Airport is spending over $100 million to prepare the airport for commercial operation of the new A380 aircraft starting in the first half of the next calendar year, and the required airfield works are almost complete.”
Retail revenue rose 4.4 per cent to $155.9 million, helped by the new food court and redevelopment of the retail section of T2.
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