23rd Mar 2016 07:46
LONDON (Alliance News) - Wizz Air Holdings PLC on Wednesday said underlying net profit in its current financial year should reach the top end of its guidance following a strong performance in the year so far.
The Eastern and Central European-focused low-cost airline said underlying net profit in the year ending March 31 should be at the top end of its EUR200 million to EUR210 million guided range, after the strong performance delivered in the first nine months of the year continued into the fourth quarter.
Wizz Air said this was the result of a combination of robust ticket sales, lower fuel costs, strong load factors, and its "disciplined approach" to cost management.
Wizz Air will report its full-year results on May 25.
"As Wizz Air approaches the 20 million passengers per year mark the company is again expected to report a strong financial performance for the full year. We have seen strength in all our markets and are expecting to achieve underlying net profit for the full year 2016 at the top end of our guidance range of between EUR200 million to EUR210 million," Chief Executive Jozsef Varadi said in a statement.
"This performance, while also delivering a forecast 21% growth in passenger numbers this financial year, re-affirms the opportunity we see in Central and Eastern Europe," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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