City File: Retailing at BAA airports
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Your support makes all the difference.ANYBODY who has been through Heathrow or Gatwick recently will know how much emphasis BAA is putting on retailing at its airports. The consensus view is that even though the ending of duty free on travel within the European Community will depress prospects, BAA's retail strategy shows a lot of promise.
But Ian Wild at BZW disagrees. He thinks the potential has been overplayed and BAA is likely to disappoint. With pre- tax profits for the year to next March expected to rise by just pounds 15m to pounds 300m, the shares at 737p are overpriced.
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