Retail spend drives profit at Fraport

Print Article E-Mail Article

The German group recorded a 5.6% increase in retail spend per passenger in the first quarter of 2005

Fraport Group has listed strong retail growth in the first quarter of 2005 as a key driver of its 45% increase in net profit. Retail spend per passenger grew by 5.6% for the three months ended March 31, with net profit climbing to €27.6m ($35.8m).

The company recorded a 7.8% rise in revenues to €480.9m ($924.5m), and 3.3% increase in group passenger traffic to 15.7m. Fraport's forecast for passenger and revenue growth of about 3% for the full year 2005 remains unchanged, the company said.

Fraport owns or manages several German airports as well as Frankfurt International airport, and overseas airports in Lima, Cairo, and Antalya.