Low cost airline Ryanair has announced today that it has seen a 25% increase in quarterly profits and reports that its full-year results will be at the higher end of expectations.
Figures show that for the three months to June, net profits were EU245 million (£174 million) which is EU197 million up from the previous year. This saw revenues grow 10% to EU1.5 billion.
Expectations for profit for the year to March 2016 are at the highest end of its forecast of between EU940 million and EU970 million.
Commenting, Ryanair said: "We caution... that this guidance, which is 12% ahead of last year's profit, is heavily reliant on the final outturn of H2 fares over which we currently have almost zero visibility."
Ryanair reported that its “Always Getting Better” programme attracted millions of new customers which saws its net profit in May increase 66% EU867 million (£614 million).
