19th May 2014 06:13
(An item published at 0654 BST misstated the revenue figures. The correct version follows.)
DUBLIN (Alliance News) - Irish low-cost airline Ryanair Holdings PLC posted 8% lower full-year net profit of 523 million euros, versus last year's 569 million euros, chiefly due to a 4% decline in fares, weaker sterling, and higher fuel costs.
The firm said it reacted quickly to this weaker environment last September by lowering fares and improving its customer experience, that caused traffic in the second half to grow 4% as load factors improved by 1%. On a per share basis, basic earnings came in at 36.96 euro cents, down 6%, compared with the prior year's 39.45 euro cents.
IFRS revenue for the year amounted to 5.04 billion euros, a 3% increase from 4.9 billion euros reported a year back. Ancillary revenues advanced by 17%, much faster than traffic growth, and now accounts for 25% of total revenues.
For the year, traffic grew by 3% year-on-year to 81.7 million passengers, from 79.3 million passengers.
Looking ahead to fiscal 2015, the company expects traffic to increase 4% to over 84.6 million as load factors increase by 2% to 85% and it adds some limited new route and capacity growth.
Copyright RTT News/dpa-AFX
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