"BAA's Profit for First Half Fell 3.6% to $510 Million"

Monday, November 4, 2002                         

BAA's Profit for First Half Fell 3.6% to $510 Million
DOW JONES NEWS


LONDON -- BAA PLC Monday said that in the six months to Sept. 30, pretax
profit fell 3.6% to £326 million ($510 million), following an increase
in security and insurance costs in the aftermath of the Sept. 11 attacks
in the U.S.

The airports operator and owner of London's Heathrow Airport said the
results were £338 million lower than in the same period last year, as
revenues edged higher to £1.02 billion. The year-ago period included
exceptional items totaling £184 million.

The results were in line with estimates of £325.8 million pretax profit.

"It remains difficult to predict the pace of traffic recovery," BAA
Chief Executive Mike Hodgkinson said in a press release. "We have seen
good growth in leisure markets at all our airports . However, long haul
routes continue to be adversely affected. We remain confident about the
growth in demand for air travel over the medium to long term, despite
this short term uncertainty."


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