Sydney Airport has a reported a 12 per cent rise in annual earnings.

MAp, the owner of Sydney Airport, announced earnings before interest, tax, depreciation and amortisation were $773.3 million in calendar 2010, up from $690.2 million in 2009.

Sydney Airport’s CEO Russell Balding said Sydney Airport said the airport had experience strong passenger growth.

“Throughout 2010, Sydney Airport continued to provide improved facilities and services for passengers with the upgrade of the International Terminal, offering a larger variety of dining, shopping and relaxation options,” he said.

In turn, this saw retail revenue grow 10.5 per cent from $192.7 million in 2009 to $212.8 million in 2010. This was driven by 7.8 per cent passenger growth and new retail offerings in the International Terminal.

MAp CEO Kerrie Mather said 2010 saw the completion of major projects including the redevelopment of the International Terminal.

“Increases in specialist shops and food & beverage have been particularly pleasing. Most recently, a Travel Concierge facility opened in the International Terminal Arrivals area in time for Christmas to provide inbound passengers with a range of accommodation and event bookings services,” she said.