Report by John Lavabre
BAA, the company responsible for running some of Britain’s
largest airports, has reported an increase in net retail income of 14% in the
six months to September 30.
Highlights of its interim results show:
* Passenger traffic has grown by 6.65;
* Net retail income up by 14% in the second quarter and up
1% for the half year;
* Profit before tax and exceptional charges up 5.2% to £322
million. Normalised profit before tax up 111.6% to £327 million;
* Earnings per share before exceptionals up 7.6% to 22.6
pence;
* Interim dividend up 7% to 6.1 pence;
* Investment in airport infrastructure up over 40% to £215
million.
BAA chief executive Mike Hodgkinson said: “These results clearly
demonstrate a return to growth after an extremely challenging 15 months post
the abolition of intra-EU duty free sales.”
BAA is responsible for Heathrow, Gatwick, Stansted,
Southampton, Glasgow, Edinburgh and Aberdeen airport’s.