Ryanair (RYA.L, RYAAY) reported fiscal-year pretax profit of 650.9 million euros, compared to 633.0 million euros last year. Pre exceptional pretax profit for the prior year period was 567.7 million.
Profit for the year all attributable to equity holders of parent was 569.3 mllion euros or 39.33 euro cent per share, compared to 560.4 million euros or 37.94 euro cent per share last year. Pre exceptional Profit to equity holders for the prior year period was 502.6 million euros or 34.03 euro cent per share. Ryanair said profit after tax increased primarily due to a 6% increase in average fares and strong ancillary revenues offset by an 18% rise in fuel costs.
Total operating revenues from continuing operations increased to 4.88 billion euros, from 4.39 billion euros last year. Total operating revenues increased 13% primarily due to a 6% rise in average fares which was partially assisted by the strength of sterling to the euro, a 5% increase in passenger numbers and strong ancillary revenues, the Group said. Total revenue per passenger rose by 8%, primarily due to a 6% increase in average fare and strong growth in ancillary revenues.
The Group expects traffic in fiscal year 2014 to grow by 3%. Ryanair expects that there will continue to be downward pressure on yields which will dampen full year profit growth. Modest yield and traffic growth for the full year is expected to be partly offset by higher oil and Eurocontrol costs resulting in another year of profit growth in fiscal 2014 which - subject to winter yield outturns - should increase to a range of between 570 million euros to 600 million euros, Ryanair said.
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