Ryanair shares down despite growing passenger numbers

first_img Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Ryanair shares down despite growing passenger numbers Express KCS whatsapp whatsapp DISCOUNT carrier Ryanair revealed a boosted earnings outlook yet again yesterday, with profits expected to reach €840m-€850m (£630m-£638m) during the 12 months to 31 March 2015. This is up from the €810m-€830m forecast issued less than two months ago on 4 December. The company also posted a €49m net profit for the three months to 31 December, exceeding third quarter expectations of €28m.It said the improved outlook was due to greater passenger volume this year compared to the equivalent period in 2013-2014, and also lower fuel costs. As a result, Ryanair is launching a buyback programme of €400m shares, to be completed between now and August this year. The news failed to impress investors, however, with shares diving to a closing price of €9.78 per share, a 6.01 per cent fall.The airline said investors should remain cautious because fuel price is hedged at $92 per barrel, whereas many of its competitors would be “significant beneficiaries” of lower oil costs.” Monday 2 February 2015 8:19 pm Show Comments ▼ Tags: Ryanairlast_img