Ryanair flying high as profit forecast raised to €770m

Ryanair has warned against any “irrational exuberance” regarding its medium-term prospects, despite it upping its own full-year profit guidance for the second time in as many quarters, yesterday, and seeing its share price jump by over 10% on the back of a strong set of first half results.

Yesterday, the low-fare airline issued a set of interim figures, which led Davy Stockbrokers to suggest that its market position is now “stronger than ever”.

After-tax profits, for the six months to the end of September were up by 32% year-on-year to €795m, with revenue rising by 9% to €3.54bn, and basic earnings per share ahead by 36% at 57.44c.