Ryanair shares fall on broker profit outlook cut

Ryanair shares fell by more than 1.4% after a leading broker significantly lowered its profit forecast for the airline.

Ryanair is due to publish annual results next month and expecting to show an after-tax profit of just over €1bn for the 12 months to the end of March. Its own guidance follows two profit warnings — issued last October and in January — and a third quarter net loss of €20m reported in February.