Ryanair Rises to Record High as Profit Increases: Dublin MoverDara Doyle
Ryanair Holdings Plc rose to a record-high after Europe’s biggest discount airline said full-year profit increased 13 percent.
Ryanair rose as much as 6.9 percent to 6.76 euros in Dublin, and traded at 6.73 euros as of 10:17 a.m. Trading volume in the stock was 40 percent the average for the past three months at about 0.8 million shares.
The Dublin-based carrier’s earnings after tax rose to 569 million euros in the 12 months to March 31, minus one-time items, from 503 million euros a year earlier, it said today in a statement. The company said it expected “another year of profit growth in full-year 2014 which - subject to winter yield outturns - should increase to a range of between 570 million euros to 600 million euros.”
“The outlook was always going to be the key,” said Donal O’Neill, an analyst at Goodbody Stockbrokers in Dublin, who has a buy rating on the company. “Ryanair has guided exactly where we expected it would.”