Fraport profit rises on tax benefit

Fraport profit rises on tax benefit

Fraport AG announced Tuesday that its 9-month profit rose 7 percent, due to positive tax effects.

Net income rose to EUR212.8 million (US$319.9 million) in the nine months through Sept. 30 from EUR199.5 million, the company said in a statement. Sales for the period advanced 8.3 percent to almost EUR1.75 billion (US$2.6 billion).

Fraport did not specify what the tax effects were.

Passenger figures at Frankfurt Airport climbed by 2.1 percent and air freight by 1.7 percent.

"We continue to see the group developing very positively for the entire 2007 year," said Chairman Wilhelm Bender.

Shares in Fraport, which also owns airports in Egypt, India and Peru, gained 4 percent to EUR55.96 (US$81.75) in Frankfurt.