Turbulence caused by the Asian crisis and the strong pound was shrugged off yesterday by airports operator BAA today as it announced increased profits.
The rise was fuelled by a growth in the number of passengers using itsairports, which include Heathrow, Gatwick and Stansted, and higher sales at airport shops.
Profits before tax in the nine months to December 31 came in at a higher than expected £415m, up from £397m at the same stage last year.
Revenue showed a 21% rise, from just over £1bn to £1.29bn as passenger numbers rose from 76.6m to 82m. BAA also operates airports at Southampton, Edinburgh, Aberdeen and Glasgow.
Its figures were boosted by a £158m contribution from American company Duty Free International which it bought last July for £406m.
Last month, BAA launched a new Fast Train service from central London to Heathrow as the forerunner to its planned Heathrow Express rail link which will cut the journey time to 15 minutes.
PA News 03/02/98
