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Ryanair raises guidance for annual results


Ryanair raises guidance for annual results

A 25 percent hike in traffic and a cut in costs by five percent where two predictions by Ryanair for the first three months to March 30.

The Irish airline also issued increased guidance for full-year net profits from between 810 million euros and 830 million euros to 840 to 850 million euros.

But it warned shareholders and analysts to “temper expectations” for full-year profits in 2015-16.

“We believe that any growth in profits will be modest as our fuel is hedged at $92 a barrel,” the company said in a statement. That could mean rival airlines will benefit from lower oil prices as they had not locked in payments at such a high level. Crude oil has fallen below $50 a barrel in recent months.

Investors focused on the longer-term outlook and shares in Ryanair fell five percent in early trading on Monday.