# (no title) - 203558
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2024-04-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: ADP Q1 Revenue Surges Amid Travel Boom
Meta Description: ADP sees impressive first-quarter revenue growth as travellers spend more on food and drinks. CEO highlights strong international activities, with positive
URL: https://financedigest.com/203558html

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By Diana Mandia

(Reuters) -French airport group ADP reported on Friday a better-than-expected rise in first-quarter revenue, benefiting from the post-pandemic holiday boom and as travellers splashed more cash on food and drink at its airports.

“All segments of activities are growing, especially the contribution of international activities, driven by the strong traffic momentum at (Turkish airport operator) TAV Airports,” Chief Executive Officer Augustin de Romanet said in a statement.

The group, which runs the French capital’s Orly and Roissy Charles de Gaulle airports, posted consolidated revenue of 1.32 billion euros ($1.42 billion), up 10% and slightly better than the 1.29 billion euros expected in a company-compiled consensus.

Revenue at its Queen Alia International Airport in Amman, Jordan fell by 7.1%, which ADP’s deputy finance chief Phillippe Pascal said in a call with analysts was due to the Middle East crisis. It saw a drop in passenger traffic of 4.6%.

It was one of only two airports out of more than two dozen that ADP runs to report a drop. Global airlines have faced disruptions in the past six months due to security concerns in the Middle East.

ADP confirmed its targets for 2024 and 2025.

The retail and services segment, which includes shops, bars, restaurants as well as car rental companies, saw revenue increase by 11.1% to 426 million euros.

(Reporting by Diana Mandiá;Editing by Josephine Mason)


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