Rome retail improvements boost Macquarie earnings

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The Australian airports group reports strong earnings from its Italian interest following the renovation of its main duty-free stores

Macquarie Airports has posted third-quarter earnings (to September 30) before interest, tax, depreciation and amortisation (EBITDA) up 17.1% on the same nine months last year, with double-digit earnings growth at Rome Fiumicino airport boosting results.

The group, which also holds interests in Sydney airport and in Bristol and Birmingham airports in the UK, attributed the growth to strong non-commercial activities, adding that initial results after a recent renovation of the main duty-free store at Rome were encouraging.

A spokesman for Macquarie said that Rome is also benefiting from new services within Europe and four new daily transatlantic flights, and that the group expected double-digit growth to continue in the final quarter.