Strong growth in passenger numbers has helped lift Sydney Airport's full-year net profit by 13.4 per cent to $320.9 million.
Total revenue for the year to December 31 of $1.36 billion, is up 11 per cent from the same period a year ago, driven by a 5.6 per cent rise in passenger numbers to 41.9 million in 2016.
Sydney airport says total passenger numbers rose 5.6 per cent, with the international segment up 8.9 per cent rise and domestic passengers up 3.8 per cent.
Chief executive Kerrie Mather said international traffic in particular had risen strongly, with double digit growth in many of the company's major markets such as China, the US, India, Korea and Japan.
"International passenger growth was the strongest in 12 years, with Sydney Airport welcoming 1.2 million additional passengers," she said in a statement on Thursday.
That was due to capacity increases and largely stable load factors from new and existing airlines, while benefits from a re-focusing on the east coast business hubs were to thank for domestic growth, the company said.
Asia was a popular destination with 2.2 million passengers flown between Sydney and China and North Asia in the year; a 23 per cent increase to five million to South East Asia; and a 22 per cent lift to 100,000 passengers carried between Australia and India.
Almost 2.5 million passengers flew to and from the Americas, up 10 per.
Flights made up more than half of Sydney Airport's revenue, contributing $701.5 million, up 15.6 per cent, while retail revenue contributed 22 per cent with $295.6 million, helped by new duty free brands and products as well as the reopening of the majority of its retail fashion stores.
Property and car rental as well as parking and ground transport brought in the remaining 26 per cent of revenue.
Sydney Airport said it planned to spend $1.3 billion on capital expenditure in the 2017-21 period, with $450 million earmarked for 2017. Capex was $385 million in 2016.
The company declared an unfranked final distribution of 16 cents a stapled security, taking the full-year payout to 31 cents. That's up from 13 cents and 25.5 cents, respectively, the previous year.
It also forecasts a total distribution of 33.5 cents a share for the 2017 full-year.
SYDNEY AIRPORT'S FULL-YEAR FIGURES:
* Net profit up 13.4 per cent to $320.9m
* Revenue up 11 per cent to $1.36b
* Unfranked final distribution of 31 cents
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