Ferrovial expects BAA profits to double
14.05.08
BAA's Spanish owners Ferrovial 'added to suspicions that it is profiteering from its near-monopoly on UK airports by forecasting a doubling of profits at the Heathrow and Gatwick owner over the next five years', the Mail reports.
In a statement late last night, the Madrid-based construction group revealed it expects BAA to double underlying earnings from £1.06bn in the current year to £2.05bn in 2012. A large chunk of the projected rise in earnings comes from Heathrow, where underlying profits are expected to rise from £632m in 2008 to £1.37bn in 2012, the newspaper reports.
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