21st May 2018 06:25
DUBLIN (Alliance News) - Ryanair Holdings PLC reported Monday a 10% increase in annual profit after tax to equity holders of parent to EUR1.45 billion, saying that lower fares - which were down 3% - stimulated 9% traffic growth to over 130 million passengers.
Load factor was 95% for the full year.
Earnings per share was EUR1.20 compared to EUR1.05.
Full year 2018 total operating revenue from continuing operations rose 8% year-over-year to EUR7.15 billion. Traffic grew 9% with Germany, Italy and Spain being the company's largest growth markets.
Ryanair Chief Executive Officer Michael O'Leary said: "We are pleased to report a 10% increase in profits, with an unchanged net margin of 20%, despite a 3% cut in air fares, during a year of overcapacity in Europe, leading to a weaker fare environment, rising fuel prices, and the recovery from our Sept. 2017 rostering management failure."
Ryanair said its outlook for financial 2019 is on the pessimistic side of cautious. The company expects to grow traffic by 7% to 139 million, at flat load factors of 95%. Unit costs in the current year will rise 9%.
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