AdP's 'Paris strategy' paying off

Premium Analysis

Aéroports de Paris’ (AdP) five-year strategy to

focus on its Paris Charles de Gaulle and Orly airports is delivering early results.

AdP, which recently sold its entire shareholding in Beijing Capital International

Airport for a handsome profit, reported an 8.1% year-on-year increase in revenue

for the 12 months ended 31-Dec-06, due to "solid" passenger traffic

growth (+4.8%) and “dynamic” commercial activity. EBITDA rose 11%,

due to tight control of operating expenses (+4.8%), although net profit fell

15.5% because of costs associated with the company’s partial IPO, carried

out last year.

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