Ryanair maintains an industry leading after tax margin of 26 percent

Ryanair has posted record half year after tax profits of €408m, a 24% increase over last year. (11/7/2007)The airline shared that its traffic grew by 20% to 26.6m and yields fell by 1% as revenues rose by 24% to €1,554m. Unit costs increased by 5%, mainly due to higher fuel, staff, and airport costs. Despite these higher costs, Ryanair maintained an industry leading after tax margin of 26%. Ryanairs CEO, Michael OLeary, said: "These record profits reflect a 20% growth in passenger volumes, a 1% decline in yields, and strong ancillary growth. Ancillary revenues grew by 54% to €252m, due to improved penetration of car hire, hotels, travel insurance, as well as strong onboard sales and excess baggage revenues. Ancillaries now account for just over 16% of total revenues as we make steady progress towards our 20% target. Our inflight mobile phone service will be tested on 25 aircraft before the end of March 2008 which will allow passengers to make and receive calls and texts on their mobile phones and blackberrys." OLeary said: "Our outlook for the remainder of the fiscal year remains cautious as we have very little visibility beyond the next two months." "Based on our current quarter three forward bookings and the impact of Easter in quarter four, we now anticipate that winter yields will be somewhat better than previously forecast with the expected yield declines being towards the lower end of the minus five per cent to minus ten per cent range." He added that he now forecasts that full-year net profits will rise by 17.5% to approximately 326m, rather than the 305m previously guided.

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