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Sydney revenues benefit from T2 retail expansion Sydney revenues benefit from T2 retail expansion
Tina Milton
19-Oct-2006
The expansion of the retail business at T2 has played a key part in the rise in revenues at Sydney Intenrational airport in the three months to September 30
Total revenues at Sydney International airport were up by 6% to A$170.3m ($128m) in the three months to September 30 underpinned by the growth of its commercial businesses.The retail business was reported to have "performed solidly" due to the partly completed new retail offering at terminal two. The A$20m ($15m) retail development of T2, comprising an expanded retail space of over 5,000sq m (53,800sq ft), will be completed in early 2007.
During the quarter, Sydney Airport and the existing duty-free operator The Nuance Group concluded negotiations on the new duty-free contract, which spans eight years and commences from November 1.
Sydney Airport Corp CEO Russell Balding said
: "Growth in Sydney airport's commercial businesses has continued to underpin growth in overall revenue and earnings. Retail revenues have benefited from the progressive launch of the new retail offering at terminal two, including the new food court. The expanded retail offering capitalises on strong growth in passenger throughput at T2, which is now the busiest terminal at Sydney airport."Bookmark This Article
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