Ryanair on course for €40m profits

RYANAIR is expected to report net profits of nearly €40 million for the first quarter of its financial year when results are revealed next week.

Brokers expect the budget airline to see earnings per share rise by 10.4% to 5.6 cent and net profits of €38.6m. The airline has seen traffic figures more than double this year as result of new routes and bases across Europe and the acquisition of the struggling airline Buzz in January.

According to Davy Stockbrokers the airline will take a hit from the acquisition of Buzz, but expects it to be smaller than €4m.