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Ryanair profits up 26 per cent over last year
Business digest: budget airline enjoys huge profit growth, but warns impact of recession not over yet
Ryanair enjoyed a 26 per cent rise in profits in the year leading up to March, but the company has struck a note of caution in the face of increasing costs.
Ryanair's revenue increased by 21 per cent, with profits of €401 million for the year - up from €319m the previous year. An 8 per cent increase in traffic, taking the total Ryanair passenger count to 72 million for the year, also helped boost profits.
Looking forward to 2012, the company said: "Since we have limited visibility on bookings, we remain concerned at the impact of the recession, austerity measures, and falling consumer confidence on fares."
The statement concluded: "We expect profit after tax for fiscal year 2012 to be similar to the fiscal year 2011 result of €400 million."
Read a full report in the Irish Times. ·
