Ryanair announce record profits

Ryanair has announced record annual profits of €569m for the year ending March 31.

Revenues at the airline have risen by 13%, while traffic is up 5%, boosting passenger numbers to 79.3 million.

The company expects traffic to grow by another 3% in the coming 12 months.

Chief Financial Officer and Deputy CEO at Ryanair Howard Millar says they are predicting profits to rise to €600m this year, despite the recession: