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05/08/2003
Record profits and passenger numbers at Ryanair
Ryanair today announced record traffic up 45% to 5.1 million and profit growth of 12% for the quarter ended June 30.
Total revenues rose by 26%, operating costs rose by 29%, after tax margins declined from 20% to 18%, while Adjusted Net Profit increased by 12% to a record €43.8 million.
However, yields declined by five points to 78% and by 14% to €41.71 due to the launch of 50 new routes and two new bases (Milan-Bergamo and Stockholm-Skavsta) and also the weakness of Sterling to the euro.
At a press conference in London today, chief executive Michael O'Leary said: "These record quarterly results reflect the continuing success right across Europe of Ryanairs low fares formula.
"During what BA last week described as the most testing period in aviation history, we continue to drive down airfares, reduce costs, but at the same time deliver increased profits and exceptional margins."
Yesterday, Ryanair announced that it had become the first European low fares airline to carry more than two million passengers in one month, with 2.04 million carried in July 2003.
(GMcG)
Total revenues rose by 26%, operating costs rose by 29%, after tax margins declined from 20% to 18%, while Adjusted Net Profit increased by 12% to a record €43.8 million.
However, yields declined by five points to 78% and by 14% to €41.71 due to the launch of 50 new routes and two new bases (Milan-Bergamo and Stockholm-Skavsta) and also the weakness of Sterling to the euro.
At a press conference in London today, chief executive Michael O'Leary said: "These record quarterly results reflect the continuing success right across Europe of Ryanairs low fares formula.
"During what BA last week described as the most testing period in aviation history, we continue to drive down airfares, reduce costs, but at the same time deliver increased profits and exceptional margins."
Yesterday, Ryanair announced that it had become the first European low fares airline to carry more than two million passengers in one month, with 2.04 million carried in July 2003.
(GMcG)
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Ryanair will be bigger than BA claims O'Leary
Ryanair will be bigger than British Airways, the company's Chief Executive Michael O'Leary claimed today as he announced a 59% increase in net profits – taking the low cost airline's bottom line figure to over €239 million for the year.
Ryanair will be bigger than BA claims O'Leary
Ryanair will be bigger than British Airways, the company's Chief Executive Michael O'Leary claimed today as he announced a 59% increase in net profits – taking the low cost airline's bottom line figure to over €239 million for the year.
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Jarvis reports huge rise in profits
In its preliminary annual results posted today, Jarvis has reported a pre-tax growth in profits of 37%, to £62.7 million. Jarvis, an international facilities management and infrastructure services group, announced a total turnover increase of 28%, to £1.2 billion. Group operating profit (before goodwill amortisation) also soared by 27%, to £79.
Jarvis reports huge rise in profits
In its preliminary annual results posted today, Jarvis has reported a pre-tax growth in profits of 37%, to £62.7 million. Jarvis, an international facilities management and infrastructure services group, announced a total turnover increase of 28%, to £1.2 billion. Group operating profit (before goodwill amortisation) also soared by 27%, to £79.
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BP reports record half-year profits
BP has reported record profits of $10.7 billion (£6 billion) for the first half of 2005. This represents a massive hike in profits for the comparable period for 2004 as the oil giant benefits from a rising demand for oil around the world.
BP reports record half-year profits
BP has reported record profits of $10.7 billion (£6 billion) for the first half of 2005. This represents a massive hike in profits for the comparable period for 2004 as the oil giant benefits from a rising demand for oil around the world.
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