/ 8 July 1999

AIRPORTS COMPANY RESULTS

SOUTH Africa’s Airports Company on Tuesday reported upbeat results for the year to March 31, 1999, but cautioned that the current year’s earnings will be hit by interest costs on borrowings and asset depreciation. Acsa unveiled turnover up 19% at R844,22-million from R710,39-million the previous year. Headline earnings a share were up to 52,24c from 45,58c previously. Acsa is 20% owned by Italy’s Aeroporti di Roma through ADR International Airports South Africa Ltd. “Already ACSA has performed very well and we’re building on expections of strong future earnings growth,” said Fabio Battaggia, ADR Executive Vice President of Business Development. Acsa declared a dividend of 12c a share, compared to 8,90c last . The company is considering listing on the Johannesburg Stock Exchange.