Sydney Airport lifts revenue

Sydney Airport's annual profit has fallen despite growth in revenue from car parking, retail and aeronautical services.

Sydney Airport's revenue from car parking, retail and aeronautical services has grown, but tax expenses has caused a fall in its profit.

The airport's car parking and ground transport revenue of $132 million in 2013 was up 11 per cent from 2012, as it expanded its car park and encouraged users to book spaces online.

Retail revenue grew three per cent to $242 million as it added new restaurants, bars and shops, and aeronautical services revenue rose seven per cent to $464 million.

But the company's net profit for 2013 of $61 million was down from $179 million in 2012, due mainly to changes to its income tax expenses.

Securityholders will receive a distribution of 22.5 cents, and in 2014 the company expects to pay a distribution of 23.5 cents.


1 min read

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Source: AAP


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