Sydney Airport up 6.4%

By Administrator |

Despite what it described as increased operating costs, first half pre-tax profits at Sydney Airport, rose by 6.4% to A$261.4m ($195.3m), according to operator Southern Cross.

The company said that better yields from its commercial businesses and increased passenger numbers drove the increase. 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 three-fold increase on the corresponding period last year.’
The airports company also recently announced a A$500m ($373.5m), five year programme to upgrade its Terminal 1 facilities.
At the same time, the Board of Sydney Airport Corporation (SACL) today announced the appointment of its new Ceo, Russell Balding who is currently Managing Director of the Australian Broadcasting Corporation (ABC). Sydney Airport?s Executive Chairman and current Ceo, Max Moore-Wilton will continue as SACL?s Chairman, in a non-executive capacity after Balding takes up his position in April 2006.
Meanwhile, Sydney Airport has also released a Request for Proposal for the right to establish and operate a Pub at Terminal 2 at Sydney Domestic Airport. This is part of the new $20m retail redevelopment of Terminal 2 aimed at the domestic travel market.
The Pub will offer a full bar facility, internal seating areas, outdoor terrace and smart food service, along with an integrated wine and liquor store providing take away liquor sales.


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