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Macquarie still seeking new privatisation targets as profits remain strong

Macquarie Airports (MAp) continues to show strong profits as its airports performed well throughout 2007. Sydney Airport, in particular, generated a 10.5% increase in revenue, well above the 6.4% traffic growth for the year. International and domestic traffic grew at 6.0% and 6.7% respectively, illustrating the very strong contribution of international traffic to the airport’s bottom line. On an “underlying basis”, EBITDA increased 10.4% to AUD604.4 million. Only a steep rise in costs, largely due to one-off staff expenses, prevented even stronger results.

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