H1 profits up 1%

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H1 profits up 1%

Post by atoutprix on Mon 4 Nov 2013 - 12:27


Extracts :

Ryanair (Nov 4) reported that H1 profits rose by 1% to €602m, as its traffic grew 2% to 49m passengers.
Revenue per passenger increased 2% due to a 22% rise in ancillary revenues.
Unit costs rose 3% largely due to a 7% increase in fuel prices.
Average fares fell by 2% during the half year, and have continued to fall this winter, which will lead to a reduction in
Ryanair’s full year profit guidance from €570m to approx. €510m.

After 20 consecutive years of rapid growth, the next 12 months will see a brief
pause in traffic growth, along with stable load factors. We intend to use this period
to further improve our industry leading customer service.

Market pricing remains weak, so we will continue to promote low fare seat sales
throughout the remainder of both Q3 and Q4. Forward bookings are running slightly
ahead of last year, but the softness in fares and yields continues. Based on
reasonable visibility we expect Q3 fares to fall by 9%, and Q4 (albeit with zero
visibility) to fall by up to 10% (without the benefit of Easter which will be in Q1
FY15). Our cost discipline will see sector length adjusted cost per passenger fall by
7% in H2. However the continuing fare and yield softness means that full year
profits will be lower than previously guided (€570m to €600m). We now expect the
full year outturn to be between €500m to €520m due entirely to this lower fare

(as regards "allocated seating" : see specific topic on this forum, in "Ryanair news")
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