Airport profits leap above expectations

Airport management company Macquiarie Airports has reported record profits in the first six months of the year 2004. Net profit attributable to shareholders rose to A$345 million, from a $126.64 million in the same period in the year 2003. Over the half, average weighted revenue increased by 10%, with earnings before interest, tax, depreciation and amortization up by 16%. Increasing passenger numbers and the effect of two years reconstructing and rationalization have resulted in a 48% increase in operating profit at the Manchester Airports Group (MAG).