AUSTRALIA. Retail revenue at Sydney Airport rose +6.4% in the first half of the 2006/07 financial year, to A$83.2 million. Revenue in Q2 rose by +7.9% to A$43.1 million. The first half results came against a backdrop of +5.7% growth in international passengers.
Non-aeronautical revenue grew by +8.3% to A$184.3 million in the half. Total revenues grew ahead of passenger growth at +8.8% above the previous corresponding period, reflecting improved yields from all commercial businesses. EBITDA rose +12.5% in the period.
Macquarie Airports CEO Kerrie Mather said: “Sydney Airport has delivered a strong half year result driven by solid passenger traffic and a number of initiatives that have improved yields from all of the commercial businesses.
“The +8.4% increase in aeronautical revenue reflects a combination of strong domestic traffic performance and, in the second quarter, a significant rebound in international traffic. Sydney Airport also continues to benefit from the expansion of airline services, in particular the launch of Jetstar International services to Phuket, Ho Chi Minh City, Bali and Honolulu.”
Sydney Airport Corp CEO Russell Balding said: “We were pleased by the upturn in international traffic in the second quarter and continue to work hard on our airline marketing initiatives. In addition we continue to enjoy the benefits of the investment in commercial initiatives which the airport has undertaken. In particular the new retail offering at T2 is delivering strong returns, and we look forward to a further improvement after the scheduled completion in the coming quarter.”
At Terminal Two – the domestic terminal – around 90% of the retail redevelopment is now complete, providing an expanded food court and speciality retail offer. The final stages of the T2 redevelopment will be completed in the coming months.
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