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01/02/2010
Ryanair Reveals Profit Increase
Despite a tough year for the tourism industry, Ryanair has announced its profit forecast for the year has increased.
The company said today that it expects to see profits of €275million from the last financial year to the end of March. That compares to its previous guidance at the lower end of the €200-300m range.
The airline reported a better than expected loss of €10.9m for the three months to the end of December, compared to a loss of €101.5m the same time the previous year.
Revenues over the three months rose by 1% to €612m, as 14% growth in its traffic numbers was offset by a 12% fall in average fares.
Announcing the results Ryanair’s CEO Michael O’Leary said: "Market conditions remain difficult, although the increasing pace of consolidation and closures among our competitors allied to Ryanair’s continuing fleet expansion will lead to further market share gains this year in particular in Italy, Scandinavia, Spain, and the UK.
"Our quarter three results were marginally ahead of expectations as a better mix of new routes and bases meant that yields fell by 12% rather than the up to 20% fall we previously guided.
"Despite the depth of the current recession Ryanair will continue to grow traffic and profits (while most other airlines lose money) for the benefit of our passengers, our people, and our shareholders."
Michael O'Leary also confirmed today that in December the budget airline would be terminating its discussions with Boeing for an order of up to 200 aircraft.
The order had originally caused some controversy after Ryanair was accused of not honouring an earlier deal.
(DW/BMcc)
The company said today that it expects to see profits of €275million from the last financial year to the end of March. That compares to its previous guidance at the lower end of the €200-300m range.
The airline reported a better than expected loss of €10.9m for the three months to the end of December, compared to a loss of €101.5m the same time the previous year.
Revenues over the three months rose by 1% to €612m, as 14% growth in its traffic numbers was offset by a 12% fall in average fares.
Announcing the results Ryanair’s CEO Michael O’Leary said: "Market conditions remain difficult, although the increasing pace of consolidation and closures among our competitors allied to Ryanair’s continuing fleet expansion will lead to further market share gains this year in particular in Italy, Scandinavia, Spain, and the UK.
"Our quarter three results were marginally ahead of expectations as a better mix of new routes and bases meant that yields fell by 12% rather than the up to 20% fall we previously guided.
"Despite the depth of the current recession Ryanair will continue to grow traffic and profits (while most other airlines lose money) for the benefit of our passengers, our people, and our shareholders."
Michael O'Leary also confirmed today that in December the budget airline would be terminating its discussions with Boeing for an order of up to 200 aircraft.
The order had originally caused some controversy after Ryanair was accused of not honouring an earlier deal.
(DW/BMcc)
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14 June 2010
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
27 July 2009
Ryanair Nets Profit
Rising passenger numbers and lower fuel prices helped Ryanair to make a €136.5m (£118m) net profit between April and June, up from €21m last year. The budget carrier saw an 11% growth in passenger numbers from the same period a year earlier - though revenues fell.
Ryanair Nets Profit
Rising passenger numbers and lower fuel prices helped Ryanair to make a €136.5m (£118m) net profit between April and June, up from €21m last year. The budget carrier saw an 11% growth in passenger numbers from the same period a year earlier - though revenues fell.
13 November 2002
Pre-tax profit hike for Viridian Group
The Viridian Group has reported a £3.1 million increase in pre-tax half-year profits. The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year. While turnover increased from £305.3 million to £331.
Pre-tax profit hike for Viridian Group
The Viridian Group has reported a £3.1 million increase in pre-tax half-year profits. The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year. While turnover increased from £305.3 million to £331.
06 August 2001
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
20 April 2004
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
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