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Heathrow revenue surges to Stg2.46bn

Monday, February 18 11:53:02

Britain's biggest airport Heathrow reported higher revenues and profits today after a record 70 million passengers used Britain's biggest airport during 2012.

The company, whose customer satisfaction levels were also at an all-time high, posted an 8pc rise in revenues to £2.46 billion sterling.

It also returned to the black at an underlying level with profits of £46.4m.

However the airport is operating at close to capacity and the company warned this would limit the UK's ability to trade with emerging economies.

There was a total of 471,341 flights during 2012, just below Heathrow's cap of 480,000 a year.

Today's results from the former BAA company include Stansted Airport, which was sold after the end of the year to Manchester Airports Group for £1.5 billion. Stansted's passenger numbers declined 3.2pc to 17.5 million last year.

The company predicted more strong growth in Heathrow's turnover this year and said construction of the new Terminal 2 should be completed towards the end of 2013, with operations commencing in mid-2014.