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Macquarie Airports (MAp) 1st Quarter Results for 2006 - Release by Macquarie International Infrastructure Fund Limited's Investment in MAp |
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20 October 2005 Southern Cross Airports Corporation Holdings (SCACH) today announced its results for the three months to 30 September 20051. SCACH reported EBITDA (earnings before interest, tax, depreciation and amortisation) of $127.0m (excluding specific expenses) for the three months to 30 September 2005, which represents an increase of 6.9% over the previous corresponding period (pcp)2 .
Macquarie Airports (MAp)3 CEO, Ms Kerrie Mather, said “This result consolidates the improvements in the performance of Sydney Airport since privatisation. After significant changes and 12 quarters of double digit growth, the Airport is now firmly positioned for the next phase of its development. “Planning is well underway on the implementation of Project STAR, a $600m investment programme to improve the airport's facilities and ability to handle the continued increase in passengers,” Ms Mather said. “The investments made over the past three years in enhancing retail, property and other commercial businesses have diversified the airport's revenue streams and secured its ability to continue to grow earnings. Through Project STAR further opportunities for improvement will be realised,” Ms Mather said. Ms Mather said operating expenses have increased as a result of the implementation of additional government-mandated security measures, but she noted that these have been largely recovered through agreed aeronautical security charges. 1 A copy of the Sydney Airport media release is attached. For further information, contact:
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