Sydney Airport’s Retail Revenue and Profitability Expansion Set to Take Off; Raising FVE Slightly
Narrow-moat Sydney Airport’s first-half results reflect continued solid international passenger growth, retail sales gains, and slight operating leverage, largely in line with our expectations. While we expect passenger growth to slow as the year progresses, we remain confident that the airport will continue to enjoy gains well above population growth, alongside further retail spending benefits and expanding EBITDA margins over the long run. To this end, we’ve lifted our near-term profit outlook...Sydney Airport's principal activity is the ownership of Sydney Airport.
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