Ryanair Holdings Plc has reported a significant increase in net Ryanair profit for the first half of its financial year, up by 60%, with revenue also growing by 30%.
The company’s strong performance during the Easter holiday period in the first fiscal quarter, coupled with record summer passenger volumes, helped offset the negative impact of substantial fuel price increases on Ryanair’s results.
According to the company’s press release, the net profit for the period from April to September reached €2.18 billion, compared to €1.37 billion for the same period the previous year.
Ryanair’s revenue increased to €8.58 billion, up from €6.62 billion in the first half of the previous fiscal year.
From April to September, 105.4 million passengers used Ryanair’s services, marking an 11% increase compared to the previous year.
Ryanair has reaffirmed its forecast that its passenger numbers for this fiscal year will reach 183.5 million. However, the company warns that achieving this forecast depends on Boeing fulfilling its obligations to deliver aircraft to them.
The company expects to achieve a net profit of €1.85-€2.05 billion for this fiscal year.
Ryanair intends to pay dividends of €0.35 per share in two installments in 2024.
