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* Says no evidence yet to justify cut to profit f'cast
* But 'significant downside risks in H2'
* Fare falls balanced by lower costs, more passengers
* Less exposure to UK than rival easyJet (Adds share price up, comparisons with rivals easyJet and Wizz)
By Conor Humphries
DUBLIN, July 25 (Reuters) - Low-cost giant Ryanair remains on track for a record profit this year, it said onMonday, dodging turbulence caused by Britain's vote to leave theEuropean Union thanks to pre-referendum bookings and highexposure to continental Europe.
While the airline still faces a cocktail of risks fromBrexit, which may force it to cut profit forecasts later in theyear, Chief Executive Michael O'Leary said he "did not see theevidence to justify a cut" right now.
He said Ryanair still sees profits after tax of between1.375 billion euros ($1.5 billion) and 1.425 billion euros, anincrease of 13 percent on last year.
"I don't think any other airline in Europe will bedelivering or forecasting that kind of profit growth," he saidin a pre-recorded video presentation. "But all of the clouds onthe horizon suggest there are significant risks to the downsidein the second half of the year."
Ryanair shares were up 5.5 percent at 11.5 euros 0815 GMT, afall of 16 percent since the Brexit vote.
Rival easyJet PLC last week said it was unable togive an earnings forecast in the aftermath of Brexit, a deadlyattack in Nice and an attempted coup in Turkey, while Germany'sLufthansa warned on profit.
Ryanair said average fares were down 8 percent in the threemonths to the end of June, in line with easyJet and onlyslightly worse than an earlier forecast for a fall of up to 7percent.
Ryanair is only dependent on Britain for around a quarter ofits revenue, compared to around half for easyJet, and it has asignificantly lower cost base.
Ryanair said it had already sold around 75 percent of itstickets for the three months to the end of September, comparedto a rate of 65 percent reported by easyJet.
Significant sales before June 23, the day of the Brexitreferendum, reduced the impact of the fall in sterling on summerbookings, said chief financial officer Neil Sorohan.
To minimise further impact, Ryanair will start to trimcapacity from UK airports this winter, although it will notclose any routes.
Most of the 50 planes due for delivery next year will beallocated to non-British routes, as Ryanair "pivots growth awayfrom UK airports" due to Brexit, O'Leary said.
Eastern European-focused budget airline Wizz Air last weekalso reiterated its pre-Brexit profit forecast after announcingplans to shift significant capacity away from the UK market.
Much of the impact of Brexit for airlines operating inBritain depends on the final terms of its separation from theEU, which may not become clear for months or years.
But Ryanair said even in the worst-case scenario whereLondon fails to secure access to the EU single market and OpenSkies travel area, the risks to Ryanair would be "not materialand will be manageable" while the impact on rivals could beworse.
Ryanair maintained its forecast of a fall in fares ofbetween 10 percent and 12 percent in the winter months, comparedwith a year ago, but lower fares will increase passenger numbersto 117 million from an earlier forecast of 116 million.
"Always in a downturn we would expect to see lower pricing,but we maintain demand," O'Leary said. ($1 = 0.9115 euros) (Reporting by Conor Humphries; Editing by Kenneth Maxwell andAdrian Croft)
