Sydney Airport’s revenue rises 11.3% in 1H16 results

Company News

by David Chau

Sydney Airport Holdings Ltd (ASX:SYD) has released its interim 1H16 results.

The company says its net profit rose to $152.7 million.  By way of comparison, its 1H15 profit was $134.6 million.

Sydney Airport’s revenue rose 11.3% to $661.9 million. The company says this was driven by international passenger growth, strong retail performance and the contribution from its Terminal 3 (which is the deal where Sydney Airport paid $535 million to buy the this terminal’s lease from Qantas Airways).

In total, there were 20.3 million passengers in the first half of 2016, which is 6.7% higher compared to same time last year.

Sydney Airport upgraded its distribution guidance slightly to 31 cents per stapled security, ans says this represents growth of 21.6%.

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