MAp Group
(ASX:MAP) says first quarter earnings at Sydney Airport rose 13% driven by a strong rebound in passenger numbers.
Profit for the three months to March 31 came to $187.06 million, up from $165.34 million in the March quarter of last year.
Revenue rose 11.7% to $228.61 million, with passenger numbers up 9.4% in the quarter compared to last year.
CEO Kerrie Mather says Sydney Airports strong first quarter is excellent with traffic rebounding in the quarter, especially international traffic with numbers up 11.8% compared to last year.
Ms Mather says airlines and passengers are benefiting from the significant investment made over the last two years to upgrade and streamline the facilities and infrastructure across the airport.
Since 2008, $700 million has been invested to meet passenger needs and support traffic growth, with a further $1 billion earmarked for ongoing investment over the next five years.
MAp Group reported a $572.7 million loss for 2009.
