Revenues, profits and margins have continued to rise at London’s Heathrow airport while capital expenditure has fallen in the first full financial year since its parent company BAA was taken over by Spanish construction group Ferrovial.

Operating profits at Heathrow increased 10.2% to £438m (€548m) last year and revenues increased by 6.2%, according to the accounts of Airport Development and Investment Limited, a private UK company through which Ferrovial owns the airport operator BAA.