Click Now!

Ryanair Share Prices Up As Full-Year Outlook Raised

Ryanair Share Prices Up As Full-Year Outlook Raised

Europe’s largest discount airline, Ryanair Holdings PLC, saw its stocks rise 4% after it revealed it has more than doubled Q1 earnings. Furthermore, the company also raised its full-year profit projection.

Ryanair Share Prices Up As Full-Year Outlook Raised

Ryanair Holdings PLC has revealed a huge quarterly profit and saw its share price rise as it raised its full-year outlook.

The airline posted results for the three months through June 30 and showed a massive 152% net profit increase on an annual basis at €197 million. Revenue was also up 11% to €1.496 billion and the number of passengers increased by 4%.

CEO Michael O’Leary said, “The earlier launch of our summer schedule and actively raising our forward bookings has delivered a 4% increase in load factor to 86% and enabled us to better manage close-in yields”.

The airline has now raised its full-year profit forecast from €580-€620 million to €620-€650 million.

Ryanair is now expecting traffic growth of 3% in the first half, ending September 30, and fares to increase by 6%. The company also said that it hopes to “aggressively” expand its capacity by 8% over the coming winter.

As part of its commitment to return €1 billion to shareholders, Ryanair is also planning to pay a €520 million dividend. The company has already purchased back €482 million worth of shares.

In a recent report, 22 analysts offering 12 month price targets for the company had a median target of €8, with a high estimate of €9.90 and a low of €7. This median represents a 16.87% increase from the last price of €6.85.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments

Calendar

Recent Tweets