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

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021