Sydney Airport Enjoys Improved Margins in 2018, but Traffic Growth Set to Slow; AUD 7.30 FVE Remains
Narrow-moat Sydney Airport’s full-year 2018 results were in line with our expectations and keep the firm on track for solid, albeit slowing, bottom-line growth going forward. As reported on Jan. 18, total passenger traffic increased 2.5% in the year, driven by 4.7% international and 1.2% domestic traffic growth. Alongside higher per-passenger rates and the positive mix shift of greater international traffic, regulated aeronautical revenue increased 7.6% versus 2017, while upgrades to retail faci...Sydney Airport's principal activity is the ownership of Sydney Airport.
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