copenhagen

http://www.forbes.com/home/feeds/afx/2006/05/02/afx2712752.html

Copenhagen Airports posts 27.6 pct rise in Q1 pretax, retains FY forecasts
05.02.2006, 05:33 AM

COPENHAGEN (AFX) - Copenhagen Airports AS' first quarter pretax profit rose 27.6 pct year-on-year to 215.5 mln dkr, in line with its expectations and it therefore retains its guidance for the full-year to Dec 31, 2006.

Strikes at SAS AB reduced the first quarter pretax profit by 9.2 mln dkr but this was offset by reduced costs, which was a result of the airport group's focus on improved operating efficiency.

For the full-year, the pretax profit is still seen in the region of 1.0 bln dkr with the year-on-year passenger growth still seen at 4-6 pct.

For the first quarter, passenger growth was 7.2 pct.

Sales rose to 639 mln dkr from 606 mln dkr, the EBIT to 242 mln dkr from 218 mln dkr and the net result to 160 mln dkr from 120 mln dkr.

Copenhagen Airports is majority owned by Macquarie Bank Ltd's Macquarie Airports Group, which has a 52.4 pct shareholding in the group after a tender offer late last year.

The Danish state holds 39.2 pct.