Record Ryanair profit as passenger numbers grow

Discount airline Ryanair revealed record annual profit, despite higher oil costs, as it added new routes and new aircraft.

Discount airline Ryanair revealed record annual profit, despite higher oil costs, as it added new routes and new aircraft.

The Dublin based company said profit after tax grew to €569m in the year ended March 31st 2013 from €503m the same time a year earlier. The group added 5% more passengers in the year bringing the total to 79.3m, despite grounding up to 80 winter aircraft.

Full-year revenue rose 13% to €4.33bn as it added 15 new aircraft to its fleet bringing the total number to 305 planes at the year-end. It added 217 new routes and seven new bases have added in Croatia, Greece, the Netherlands, Morocco and Poland.

Fuel costs rose by over €290m, and now represent 45% of the group's total costs.

Passenger traffic is expected to increase just 2% this summer but should increase to around 5% in the second half as it grounds fewer winter aircraft compared to the prior years. Traffic in the full year 2014 is set to grow by 3% to 81.5m, it said.

Ryanair is 90% hedged for its fiscal 2014 fuel bill at $980 a tonne and partially hedged for the financial year ending 2015 at $930 a tonne.

The group said it hopes to continue to make reductions in its oil costs into 2015.

Its shares rose 6.22% to €6.72 at 09:00 in London.

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020