Light-handed regulation and a regional monopoly make Sydney Airport an attractive asset.
Sydney Airport delivered a strong 2016 interim result with net profit pretax up 20.7% to AUD 162 million and we estimate EPS increased 18% on the prior period. The result reflected a full six-month contribution from the Sydney domestic terminal 3 acquired from Qantas in September 2015 for AUD 535 million. While like-for-like growth rates were not disclosed, management said comparable EBITDA growth was in excess of the 6.7% growth in passenger numbers.The EBITDA margin excluding security charges...
Sydney Airport's principal activity is the ownership of Sydney Airport.
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