Ryanair said today it expected its full-year net profit will be towards the upper end of its current guidance of between €620m and €650m.

The airline held its AGM in Dublin today. Shares in the airline closed 1.2% higher in Dublin trade today.

Ryanair also said it was raising its full year traffic forecast from 86 million to 87 million customers due to the continuing success of its "Always Getting Better" initiatives introduced over the last few months. 

These new initiatives include a revamped website and a new app, a free second carry-on bag and a new service for families.

Last month it launched a new 'Business Plus' service targeting companies wanting to cut costs, with benefits including ticket change flexibility, greater baggage allowance, priority boarding and premium seats.

"Our customers and our shareholders have responded favourably to our improving customer experience, our better digital platform and the positive initial uptake of our Business Plus service," Ryanair's chief executive Michael O'Leary told shareholders.

But he cautioned that full-year profits would depend on Ryanair's performance in the second half of the current financial year.

"The full-year profit outturn continues to be heavily dependent on second-half yields over which we have very little visibility at present," O'Leary added.

Ryanair expects slightly stronger traffic growth in its European winter schedule, as it opens new bases in airports in Cologne, Gdansk and Glasgow, and introduces more frequent flights between Dublin and cities in the UK and elsewhere in Europe.

Earlier this month, Ryanair agreed to buy 100 aircraft from Boeing for $11 billion, with an option to purchase another 100 planes from the firm. 

The huge order was aimed at meeting the Irish airline's long-term growth target of 150 million customers by 2024. The first planes will be delivered in 2019.

Mr O'Leary said the airline will give an update on its third quarter performance at its half year results announcement in early November.