April 30, 2010
MAp Group (MAP) said proportionate earnings per share rose 20% in the March quarter to 5.4c compared to the previous corresponding period. In its Management Information Report, the company said EBITDA after corporate expenses increased 15.6% to $186.6 million on proforma pcp.
CEO, Kerrie Mather, said traffic growth is firmly re-established at all of the group’s major airports and earnings outperformance continues.
“The main airports in MAp’s portfolio delivered a solid performance in the first quarter, driven by the rebound in passenger numbers, higher loads factors and increased airline capacity,” Ms Mather said.
“The earnings outperformance against traffic across our airports for the quarter is testament to the operational leverage at all three airports, which has been delivered by MAp’s model of active management.”
MAp reported 7.6% traffic growth across the portfolio, with all core airports delivering increased passenger numbers.
The group said portfolio EBITDA margin of 68.4% was up from 64.3% in the pcp and 60.8% for the 12 months to 31 December 2009.
Ms Mather said the International Terminal redevelopment at Sydney Airport is almost complete.
As at 1110 AEST, MAp shares were up 1c to $3.12.
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Industrials, News and Views by egoli
April 30, 2010
MAp Group (MAP) said proportionate earnings per share rose 20% in the March quarter to 5.4c compared to the previous corresponding period. In its Management Information Report, the company said EBITDA after corporate expenses increased 15.6% to $186.6 million on proforma pcp.
CEO, Kerrie Mather, said traffic growth is firmly re-established at all of the group’s major airports and earnings outperformance continues.
“The main airports in MAp’s portfolio delivered a solid performance in the first quarter, driven by the rebound in passenger numbers, higher loads factors and increased airline capacity,” Ms Mather said.
“The earnings outperformance against traffic across our airports for the quarter is testament to the operational leverage at all three airports, which has been delivered by MAp’s model of active management.”
MAp reported 7.6% traffic growth across the portfolio, with all core airports delivering increased passenger numbers.
The group said portfolio EBITDA margin of 68.4% was up from 64.3% in the pcp and 60.8% for the 12 months to 31 December 2009.
Ms Mather said the International Terminal redevelopment at Sydney Airport is almost complete.
As at 1110 AEST, MAp shares were up 1c to $3.12.
Filed under:
Industrials, News and Views by egoli
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