Sydney Airport see profit fall on passenger numbers and Danish dispute2019|00:48
Sydney Airport (ASX:SYD) cut costs and reduced staff numbers after its half year results show a 90 per cent drop in profit after income tax to $17.3 million. Attributable profit after tax to security holders plummeted 158.1 per cent to a loss of $66.7 million on a tax deferred distribution basis. The airport saw 21.6 million passengers pass through for the half year. Domestic travel is down as well as car parking and ground transport revenue. International passengers grew 1.9 per cent. But a tax dispute in Denmark caused a large expense with a resolution unlikely before 2021. Shares in Sydney Airport (ASX:SYD) are trading 1.79 per cent lower at $8.22.