Macquarie still seeking new privatisation targets as profits remain strong

Premium Analysis

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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