Heathrow is star retail performer for BAA
Boosted by a strong performance by London's Heathrow, gross retail income grew 14.2% to £246.7 million and net retail income increased by 15.3% to £231.5 million.
Revenue increased by 12.1% and adjusted EBITDA was up 27.1%
Colin Matthews, Chief Executive Officer of BAA, said: "This is a strong financial performance that reflects record passenger numbers, increased revenue per passenger and good cost control. We remain focused on customer service and Heathrow has achieved some of its best ever levels of flight punctuality and baggage delivery. BAA is investing £1 billion in new passenger facilities at Heathrow during 2011 and the airport’s newest, Terminal 5C, opened in June, improving passengers’ experience of the airport.”
Passenger traffic climbed to record levels at Heathrow, up 9.1% year-on-year. Total traffic increased by 7.1% to 41.4 million.
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