Shares in Ryanair have soared on the London Stock Exchange today (November 5th) on news the low-cost airline has enjoyed good profit results.
The budget carrier announced that its profits for the first half of the year rose by ten per cent to €596 million (£476 million) and revenues were up by 15 per cent to €3.11 billion.
Traffic grew by seven per cent to 48 million passengers, while average fares increased by six per cent.
Ryanair stated that its first-half profit growth during a period of high oil prices and continuing austerity in Europe is a strong result for the company, while it also enjoyed good custom post-Olympics.
"Ryanair sees substantial opportunities to grow by deploying our industry-leading low costs, low fares and on-time flights with our youngest, largest and safest fleet of Boeing 737s," the airline stated.
At 11:50 GMT in London, Ryaniar shares advanced by 7.3 per cent to €4.87 per share.
Learn all about CFD trading strategies and major individual shares at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.