Business Description:
Sydney Airport Limited (SYD) is one of the oldest continually operating airports in the world. It is an international gateway and a part of Australia's transport network that connects Sydney to 46 international, 23 domestic interstate and 28 regional destinations. Sydney Airport is located only 8km from the city centre and less than 10km from major tourist attractions.

Strategy Analysis:
SYD focus on improving operating performance of Sydney Airport and to provide investors with a combination of capital growth and growing cash yields. SYD positions each airport business for sustainable long term growth and to deliver better service quality for passengers. MAp Group reported a net loss of $273.48m for the half-year ended 30 June 2011, primarily due to recognition of European airports at agreed sale values. Revenues from ordinary activities were $503.32m, up 4.7% from the same period last year. Diluted EPS was (14.7) cents compared to 1.1 cents last year. Net operating cash flow was $409.42m compared to $425.99m last year. The interim dividend declared was 11 cents in line with 11 cents last year. Looking ahead, continued passenger and revenue growth will be driven by focussed stakeholder interaction to maximise the benefits from structural changes to the aviation industry, and the provision of enhanced products and services. Cost discipline, including identified corporate expense savings, will generate further operating leverage.