1279shp
25th Jan 2006, 07:18
:hmm: January 19, 2006
Despite increased operating costs, first half pre-tax profits at Australia's largest airport, Sydney, rose by 6.4 percent to AUD$261.4 million (USD$195.3 million).
Airport operator Southern Cross said the increase reflected improved yields from all commercial businesses and passenger traffic growth from new airline services. An 8.5 percent lift in operating expenses was due to increased security measures.
Reporting strong growth at Sydney, Southern Cross Airports' Executive Chairman and CEO Max Moore-Wilton said: "Total capital expenditure for the half year to December was more than a threefold increase on the corresponding period last year."
The company recently announced a AUD$500million (USD$373.5 million), five year program to upgrade facilities at Terminal One and on the airfield to provide state of the art facilities.
Despite increased operating costs, first half pre-tax profits at Australia's largest airport, Sydney, rose by 6.4 percent to AUD$261.4 million (USD$195.3 million).
Airport operator Southern Cross said the increase reflected improved yields from all commercial businesses and passenger traffic growth from new airline services. An 8.5 percent lift in operating expenses was due to increased security measures.
Reporting strong growth at Sydney, Southern Cross Airports' Executive Chairman and CEO Max Moore-Wilton said: "Total capital expenditure for the half year to December was more than a threefold increase on the corresponding period last year."
The company recently announced a AUD$500million (USD$373.5 million), five year program to upgrade facilities at Terminal One and on the airfield to provide state of the art facilities.