Ryanair has reported a 30% increase in net profits for its third quarter to the end of December, as passenger numbers grew by 19% on the same period a year earlier to 10.3 million.
After-tax profits were €48m, while pre-tax profits moved up from €40.6m to €51.2m. The airline also raised its forecast for the full year, helped by lower oil prices. It now expects net profits for the full year to rise by 29%, compared with a previous 13% forecast.
In the third quarter, yields, or average fares, rose by 7%. Costs increased by 14%, mainly because of a 52% jump in fuel costs. The airline said that despite this, it kept its net margin to 10%.
Revenues from fares and checked-in baggage grew by 28%, but ancillary revenues rose 61%, as passengers spent more on flights.
Chief executive Michael O'Leary said the airline's low cost base had allowed it to absorb higher oil prices. He said Ryanair had taken advantage of recent price weakness to extend its fuel hedging position.
It was hedged at $73 a barrel to the end of March, but is now 50% hedged through the first half of its next financial year, and 90% through the second half, at 10% lower prices.
Ryanair also said this morning that it would implement a two for one share split on February 26.
Separate figures showed that Ryanair's passenger numbers in January were 3.1 million, up 23% on the same month last year. The load factor - percentage of seats filled - dropped three points to 71%.
Shares in the company were up 71 cent at €11.93 in Dublin this lunchtime.
