March 7, 2014 / 7:18 AM / 4 years ago

UPDATE 1-Fraport sees higher net profit in 2014 on passenger growth

* Fraport predicts a slight increase in net profit in 2014

* Fraport passenger numbers to grow between 2 and 3 percent in 2014

* 2013 Fraport net profit falls less than expected (Adds details on results, bullet points)

FRANKFURT, March 7 (Reuters) - Fraport, the operator of Frankfurt airport, said on Friday it expected net profit to rise slightly in the current year after falling more than 6 percent in 2013, as passenger growth improve.

Growth prospects for Frankfurt airport, Europe’s third biggest airport by passenger numbers, are limited mainly because key accounts like Lufthansa are cutting their costs, cautious about expanding capacity.

Lufthansa alone accounts for more than 50 percent of Fraport’s business in Frankfurt.

Fraport said it expected passenger growth in 2014 between 2 and 3 percent after 0.9 percent last year.

The increase of passenger numbers at Heathrow, Britain’s biggest airport, was 3.4 percent as it runs at full capacity, unlike Frankfurt.

Fraport’s net profit before minorities fell to 236 million euros ($326.63 million) in 2013, the company said, still beating the 227 million average analyst forecast.

Revenue increased 4.9 percent to 2.561 billion euros, largely in line with analysts’ expectations, as the company benefited from new shops and cafes at Frankfurt airport where it takes a share in the rental incomes and in the takings.

$1 = 0.7225 euros Reporting by Kirsti Knolle; Editing by Christoph Steitz and William Hard

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