Southern Cross Airports Corporation Holdings (SACL) has reported an 11.6 per cent increase in earnings for Sydney Airport to A$584.7 million (US$515.2 million) for the year ending June 30 compared to A$523.8 million for the same period last year.

It said the unaudited consolidated profit before depreciation and amortisation, net financing costs, income tax and specific non-recurring expenses (EBITDA) amounted to A$585.8 million for this period, up from A$525.6 million a year ago.

Growth in passenger traffic was up 6.4 per cent over the first half of the previous year, with total revenue growing at 9.9 per cent, on the back of higher yields from all commercial businesses.

Total operating expenses were up 5.6 per cent over the same period last year to A$143 million (including specific non-recurring expenses), reflecting higher security operating costs which were recovered through increased aeronautical security revenues.

SACL chief executive officer Russell Balding said that the airport had achieved strong growth in revenue and earnings well in advance of passenger traffic growth as a result of continued investment across all areas of the business.

Total capital expenditure decreased 20.2 per cent to A$174.4 million against A$218.7 million for the corresponding prior year period. Capital expenditure for the financial year comprised maintenance expenditure of A$20.4 million and A$154.0 million in growth expenditure for providing 100 per cent checked baggage screening, facilities upgrades in readiness for the Airbus A380, the new Qantas lounge at the international terminal, the T2 retail redevelopment and taxiway lighting upgrades.