MAp Group (ASX:MAP) says earnings at Sydney Airport grew 14.2 per cent for the year to date thanks to growth in passenger numbers, commercial expansion and cost control.
EBITDA, before specific expenses, came to $567.4 million in the nine months to September 30, up from $496.9 million made for the same period last year.
Revenue at Sydney Airport increased 12.4 per cent to $693 million for the period.
Earnings before interest, tax and amortisation for the third quarter, before specifics, exceeded $200 million for the first time.
MAp Group CEO Kerrie Mather says year to date traffic growth at Sydney Airport stands at nine per cent, with the strong Aussie dollar contributing to outbound travel demand.
MAp Group owns 74 per cent of Sydney Airport. MAp Group posted a loss of $5.83 million for the half year to June 30, 2010.
MAP Price at posting:
$3.00 Sentiment: None Disclosure: Held
