NCB cuts Ryanair profit forecast

NCB Stockbrokers yesterday downgraded its profits forecast for Ryanair on the back of high oil prices.

NCB cuts Ryanair profit forecast

The broker said that though Ryanair have been shielded so far from the oil prices because of hedging, its decision to stop hedging has left it now fully exposed to market forces.

The company cut its full year 2005 profit forecast from €234m to €202m and its 2006 forecasts from €256m to €199m.

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