Heathrow T5 Costs Drive 5% Drop In Ferrovial’s 1Q Sales
BAA parent Group Ferrovial blamed a first-quarter 4.8% drop in sales -- to EUR3.2 billion (US$4.9 billion) – on increased costs to open London Heathrow’s Terminal 5. The Spanish company was also hurt by the rise of the Euro versus the U.S. dollar and the U.K. pound sterling. Gross profits in the...
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