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SYDNEY: Sydney Airport, majority owned by Macquarie Airports, reported that full-year earnings grew by 6.9 per cent, boosted by higher retail revenue.
Earnings before interest, tax, depreciation and amortisation grew to A$649.4 million for the 12 months to December 31, compared with the A$607.5 million in 2007.
Revenue rose 6.9 per cent to A$812.7 million, driven by retail which increased 10.1 per cent to $192 million.
"Commercial revenues held up very well through the year, supported by the fact that the duty-free contract continues to operate on minimum guaranteed rents and the opening of the multi-storey carpark in the international precinct in July," Macquarie Airports chief executive Kerrie Mather said in a statement.
"Recent months have seen increased spend rates from overseas travellers in response to the weaker Australian dollar."
Aeronautical revenue, including landing fees paid by airlines, grew 3.5 per cent to A$317.5 million, reflecting the traffic growth of 3.2 per cent.
Sydney Airport's growth slowed in the fourth quarter, with revenue increasing 2 per cent to A$212.9 million and ebitda rising 0.6 per cent to A$169.9 million.
"Sydney Airport is not immune to the challenges presented by the current external environment, as reflected in the slower traffic growth experienced in the final quarter of the year," Mather said.
"However, the attractiveness of Sydney Airport to passengers and airlines was demonstrated by the relatively limited capacity reductions suffered and a series of new route and service announcements."
- AAP