Ryanair on course to make €350m profits

RYANAIR is on track to make net profits of more than €350 million this year, with the market anticipating excellent third-quarter results this morning.

Goodbody Stockbrokers rate Ryanair a buy, placing a 12-month price target of €8.50 on the shares, which opened yesterday at €6.90. The brokers say a short-term target of €7.70 seems reasonable.

Passenger growth in October, November and December was 37%, 43.3% and 63.5%, respectively, according to Davy Stockbrokers.