Takeover hits Aldeasa profits

John Gallagher

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Analysts will be hoping Aldeasa's new owners can revive the company's fortunes after a drop in profits in the first half

The company also reported improvement in gross margins due to increases in sales to domestic and non-EU travellers. According to the company, the depreciation of the dollar reduced the growth in international operations by four points, and group turnover by 0.5%.

Many industry analysts are expecting a change in strategic direction following Aldeasa's acquisition by Autogrill and Altadis joint venture Retail Airport Finance earlier this year. The companies, which won the takeover battle against Dufry Group and the GEA consortium, are experienced financiers and retailers, and observers are awaiting new plans to increase Aldeasa's turnover and profitability.

The group's increase in turnover in the first six months failed to match the passenger growth at Spanish airports, which account for the majority of Aldeasa's business. Traffic increased by 8.3% to 82.6m passengers in the first half of the year.