First Impression: Sydney Airport (SYD) 1H16 Result

Bell Potter


Total revenue up 11.3% to $661.9m. Breakdown: Aeronautical Services (51% of Group Revenue) Revenue up 17% to $337.3m 9.3%; driven by 9.3% international and 6.7% total passenger growth; Retail (21% group revenue) up 9.5% to $142.3m; Property and Car Rental (16% of Group Revenue) up 2.2% to$103.2m; 220 leasing transactions complete, 98.6% occupancy rate; Parking and Ground Transport (11% of group revenue) up 4.4% to $75.4m; Online parking take up continues to drive higher asset utilisation | Total of 20.3 million passengers in first half 2016, up 6.7% on the pcp; international and domestic passengers grew a strong 9.3% and 5.3% respectively.

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Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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