Edinburgh Evening News - Business - BAA owner's profits soar

Edinburgh Evening News - Business - BAA owner's profits soar: "BAA owner's profits soar
FERROVIAL, the Spanish construction and services giant that recently bought Edinburgh Airport owner BAA, said profit over the first nine months of the year had soared by 86 per cent.
Up to September 30, which covered three months' ownership of Edinburgh, Glasgow and five other UK airports, including Heathrow, Ferrovial said it made an underlying net profit of £1.09 billion. That was ahead of the £1bn that analysts had forecast.
Revenues over the period were up 46 per cent to £6.12bn, also boosted by the £10.3bn takeover of BAA, the world's biggest airports group, in June. Ferrovial was the lead partner in a consortium that included Canadian pension fund Caisse de Depot & Placement du Quebec and GIC Special Investments, an investment arm of the Singapore government.
Ferrovial has been highly acquisitive this year, having benefited from a boom in Spain's housing and infrastructure market.
Its core construction business, which analysts expect to slow along with a cooling Spanish building sector, raised sales by 18.9 per cent to £2.53bn, while operating profit was up 35.7 per cent at £130.6m."