Profits at the Spanish airports-to-road toll company Ferrovial increased by 25% in the first nine months, driven largely by its share in the consortium that acquired BAA for ?10.1bn (E.15.1bn) last June.

BAA contributed more than E.1bn ($1.2bn) to Ferrovial's infrastructure revenues, accounting for around 60% of the total, while Ferrovial's net profits rose from E.275m ($349m) last year to E.333m ($422m) in this year's comparative first three quarters.
Ferrovial reported that its core profit (EBITDA) ? minus the considerable costs of acquiring BAA ? increased by 86% to E1.64bn, ($2bn) with BAA accounting for E.492.5m ($624.8m) of that figure.
At the same time Ferrovial, the lead and active investor in the consortium that now owns BAA, said it will continue to invest in major infrastructure improvements at BAA, including Heathrow Terminal 5 (?4.2bn/$7.9bn) and the redevelopment of Heathrow Terminal 2 (?1.2bn/$2.2bn).