Share price slide knocks €1bn off Ryanair value

Close to €1bn was wiped off Ryanair’s market value yesterday as its share price slid by over 6%.

This was despite the low-fare carrier reporting a bumper set of third quarter results and management upping its full-year profit guidance for a fourth time in its current financial year. As expected, Ryanair’s latest figures — covering the three months to the end of December — showed further progress towards what is set to be a record year for the company.

Third-quarter net profit came in at €49m, with basic earnings per share amounting to 353c. For the same period last year, Ryanair posted a net loss of €35m and losses per share of 250c. Group revenue, for the last three months, was up by 17% year-on-year at just over €1.13bn, with passenger numbers rising by 14%, annually, to 20.8m people.