Sydney Airport posts strong retail growth

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Refurbishments to the airport's retail offer have boosted results for parent company Macquarie Airports

Sydney Airport has announced a 4.4% increase in retail sales revenue for the nine months to March 30 against the same three quarters in 2002-3. The company said the figure, which contributed to a 14.8% growth in parent company Macquarie Airports' earnings before interest, tax, depreciation and amortisation, was driven by the contribution from the T2 terminal, which began trading in September 2002.

Macquarie Airports ceo Kerrie Mather said: "This is a particularly pleasing result given that the recovery in traffic from the Iraq war and SARS is still building, with international passenger growth of 5% for the first nine months of 2003/4.

"The strong result reflects the ongoing positive contribution of terminal 2, an improving commercial trading environment and the benefit of ongoing cost saving initiatives."

The airport has also said the refurbishment of the T1 duty-free departures project is almost complete and that the renewal of the T1 food court continues to make progress.