Fraport profits up 18%

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The German airport group reports strong financial results for 2004 based on a surge in air traffic demand

German airport authority Fraport Group has reported an 18.4% increase in profit, to €136.4m ($179.5m) for 2004, following an 8.9% rise in revenues to almost €2bn ($2.63bn). The group attributed the results to "unprecedented demand in air traffic", exemplified by the company's flagship location Frankfurt International airport, which served a record 51.1m passengers last year, up by 5.7% on 2003.

"Never before in the history of our company did net income reach such pleasant levels," said Fraport chairman Dr Wilhelm Bender.

The company anticipated passenger traffic at Frankfurt to grow by around three per cent in 2005, while group revenues would grow by more.