- UK airports passenger traffic up 1.4% to 115.0 million (30 September 2006: 113.4 million) and Naples traffic up 13.0% to 4.5 million passengers for the period.- Revenue up 2.7% to £1,988 million (£1,937 million).
- Operating profit after certain remeasurements down 18.1% to £544 million (£664 million).
- Operating profits up 7.3% to £642m (£599m) before impact of the loss on disposal of Budapest Airport, exceptional costs and fair value movements
- Results for the period have been impacted by the heightened security measures for approximately £27m. In addition, during the period £12m has been invested in a programme of immediate delivery introduced by the management with the objective of improving passenger experience by reducing queues and improving facilities and cleanliness.
- Net debt £6,672 million (31 December 2006: £6,299 million) and gearing (net debt: net assets) of 96% (31 December 2006 - 99%).
London, November 14, 2007. It should be noted that the period to 30 September 2006 includes 9 months of results for Budapest Airport, whereas the period to 30 September 2007 includes results for 5 months until its disposal. The loss on disposal of Budapest Airport, mainly due to currency exchange rates, is included in the results for the period to 30 September 2007. No other significant disposal of businesses has taken place in the period.
Stephen Nelson, chief executive officer of BAA, said: BAA has delivered a satisfactory set of results, achieving an underlying seven percent increase in operating profit. In September we launched a wide-ranging programme to improve passenger experience by reducing queues and improving facilities. We have also made major strides with the construction of Heathrow's Terminal 5 which is due to open on schedule in March 2008 and is a key element of our extensive investment programme to transform standards at Britain's airports."
