Ryanair posts jump in first-half profit

City A.M. Reporter
Ryanair this morning posted a 10 per cent jump in first-half profit, thanks to higher fares and lower fuel costs.

The Dublin-based airline said fares rose six per cent in the second half, coupled with a surge in passenger numbers during the summer months.

Net profit for the six months to September came in at €596m (£476m), up from €544m a year previously. Revenue soared 15 per cent to €3.1bn.

On the back of strong results, Ryanair lifted its forecast for the year to March to a profit of between €490m and €520m from previous guidance of between €400m and €440m.