Stronger retail revenues helped Sydney Airports lift its 2017 guidance as 2016 annual profits were reported up 13.2% to $320.9 million.
The company announced that it will pay a full-year dividend of 31 cents per share for 2016 as total revenue climbed 11% in the year ended December 31st.
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Total 2016 revenue was announced at $1.365 billion from $1.229 billion during the year ago period.
Forward guidance was higher, but slightly negative as the company forecast a 2017 dividend of 33.5 cents per share versus the street’s expectation of 34 cents per share. EBITDA rose 8.2% to $1.08 billion, and operating margins are running at 8.2%.
Total passenger numbers increased 5.6% to 41.9 million , with international passenger numbers rising 8.8% to 14.9 million.
Technically, the share price should find support at the $6.00 area, which is also the 30-day moving average.
Our Algo Engine created a short signal in December at $6.70.
