Regional airline Rex expects its profit to fall in the current financial year because of weak economic growth, the high Australian dollar and rising fuel prices.

The company made a profit of $14 million in the 2012/13 financial year.

Continued weakness in the economy in the first three months of the 2013/14 year indicate that full year performance will “significantly deteriorate” from the previous year, the company told its shareholders at its annual general meeting on Wednesday.

The foreign exchange rate and fuel prices are also impacting the company, Rex said.

Its shares were down half a cent at 93 cents at 1215 AEDT.