Ryanair reports 'modest' operating profit in 1QFY2016

Ryanair revenue up 2% - financial highlights for three months ended 30-Jun-2016

• Revenue: EUR1687 million, +2% year-on-year;
• • Ancillary: EUR443.4 million, +10%;
• Total operating costs: EUR1381 million, +1%;
• • Fuel: EUR518.4 million, -7%;
  • Airport and handling charges: EUR241.4 million, +4%;
• Operating profit: EUR306.8 million, +6%;
• Profit before tax: EUR256 million, +4%;
• Net profit: EUR255.5 million, +4%;
• Passenger numbers: 31.2 million, +11%;
• Load factor: 94%, +2 ppts;
• Average fare: EUR40, -10%;
• Total assets: EUR11,236 million;
• Cash and cash equivalents: EUR1033 million;
• Total liabilities: EUR7501 million. [more - original PR]

Ryanair: "We are, on average, 1% better booked for Q2 than at this time last year albeit at significantly lower fares. We expect load factor will be similar to last year at 93%. We now believe our FY traffic will grow by 10% to 117m customers (up 1m on previous guidance). Average fares on close-in bookings have been adversely impacted by ATC strikes, terrorist events and weaker sterling post Brexit. As a result, we expect Q2 fares to fall by at least 6% (H1: -8%). This outcome remains heavily dependent on close-in bookings for August and September. We have little visibility over W16 fares but see no reason-yet-to alter our guidance of -10% to -12% in H2. If there is any movement in these numbers it is more likely to be towards the downside." Source: Company statement, 25-Jul-2016.