Ryanair Q1 Net Income Rises; Maintains Profit Guidance - Quick Facts

(RTTNews) - Ryanair Holdings plc (RYA.L, RYAAY) reported that its first-quarter profit to equity holders of parent increased year-over-year to 255.5 million euros from 245.1 million euros. Earnings per share in euro cent was 19.90 compared to 17.81.

Total operating revenues from continuing operations were up 2% to 1.69 billion euros from 1.65 billion euros, prior year. Traffic was up 11% to 31 million.

Ryanair's Michael O'Leary said: "This modest 4% increase in profit is in line with previous guidance. The absence of Easter in Q1 and on-going market volatility arising from terrorist events, and repeated ATC strikes (particularly in France) weakened fares on close-in bookings and caused almost 1,000 flight cancellations."

Ryanair maintained its guidance, that full year profits will rise by approx. 12% to a range of 1.375 billion to 1.425 billion euros, but cautioned that post Brexit there are significant risks to the downside during the remainder of the year. Ryanair now believes its fiscal year traffic will grow by 10% to 117 million customers, up 1 million on previous guidance.