DUBLIN: Irish low-fare airline Ryanair lifted its annual earnings forecast yesterday, after revealing that first-half profits soared by almost a third, boosted by the timing of Easter and improved customer services.
Earnings after taxation profits surged 32 percent to ¤795m euros ($993m) in the six months to September 30 compared with ¤602m a year earlier, Ryanair said in a results statement, adding the group was also lifted by its new offering for business travellers.
Sales advanced nine percent to ¤3.537bn and traffic grew four percent to 51.3 million customers.
The Dublin-based carrier predicted that net profit for the current financial year to March 2015 was expected to be between ¤750m and ¤770m. That compared with its previous guidance of between ¤620m and ¤650m.
The company also expects full-year traffic to grow by nine percent to 89 million passengers.
“We are pleased to report this significant increase in first-half profits,” said Ryanair chief executive Michael O’Leary.
“While partially due to the presence of Easter in Q1 and a weak prior year comparable, we have also enjoyed a strong summer thanks to our strategy of raising forward bookings and improving our customer experience.”
Easter fell in April this year, during the first quarter of Ryanair’s financial year, rather than during March in 2013.
AFP
