London’s Heathrow Airport said it returned to pre-tax profit for the first half of 2022 as revenue rose, but did not propose a dividend for the year.
The airport, which is jointly owned by the Qatar Investment Authority, China Investment, Spain’s Ferrovial and other investment firms, said pre-tax profits were 263 million pounds ($316.8 million) compared to losses. of £868m for the first half of 2021.
Adjusted pre-tax losses narrowed to £321m from £787m a year ago, a result of higher investor numbers and higher air charges, partly offset by higher costs.
Revenue rose to £1.28bn from £348m a year ago.
The company added that the outlook for adjusted EBITDA remains consistent with June estimates of £1.37bn from £384m in 2021.