Finance & Stock Market News

Ryanair warns of sharp profit fall as recession bites

Mon, 21st May 2012 06:20

DUBLIN, May 21 (Reuters) - Ryanair:

* Posts net profit of 503 mln eurs in 12 months t

o March 2012 (vs. f'cast 491 mln euros)

* FY12 EPS 34 euro cent vs 33 cent analyst forecast

* Proposes 34 eur cent per share special dividend (483 mln eur) payable in Nov 2012 subject to AGM approval

* Sees 400-440 mln eur net profit in year to March 2013 (analyst f'cast 510 mln)

* Says recession, austerity, currency concerns and lower fares to hit FY13 profit

* Traffic to grow 5 pct in FY13 to 79 mln pax, fuel bill to rise 320 mln eur (90 pct hedged)

* Expects to report Q1 profit fall due to higher fuel prices

(Reporting by Conor Humphries) Keywords: RYANAIR/

(conor.humphries@thomsonreuters.com; +353 1 500 1518; Reuters Messaging: conor.humphries.thomsonreuters.com@reuters.net)

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