Macquarie Airports 2003 Earnings Soar

February 25, 2004

Macquarie Airports 2003 Earnings Soar
The Star, Malaysia

 
SYDNEY: Macquarie Airports Ltd (MAP) said its 2003 net
profit jumped to A$340.4mil from A$48.1mil the prior
year helped by improved performances at its airports
and the acquisition of Sydney and Rome airport stakes.


“This performance has demonstrated the inherent
resilience in airport businesses and the success that
MAP has had working with airport management to
introduce business initiatives that have, and will,
continue to improve revenue per passenger and assist
in managing costs,” said chief executive Kerrie
Mather. 

Mather said in a statement that traffic recovery was
now accelerating at a rate faster than expected across
the company's portfolio and the airports were well
positioned to capture the benefit from expanded
airline services and improved offerings in retail,
food and beverage, car parking products, and other
commercial initiatives. 

“In addition, in the 12 months to December 2003, MAP
purchased an additional 8.3% beneficial interest in
Sydney Airport and an additional 3.4% beneficial
interest in Macquarie Airports Group,” she said,
adding that this had helped boost earnings. 

“Overall, the outlook for 2004 is positive. MAP
expects traffic to continue to grow at all its
airports, assuming no external shocks,” she said. 

This growth will be driven by increased airline
capacity across all sectors and higher travel demand
as passenger confidence returns. – AFX-Asia 


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