Ryanair Revenue Rises as Traffic Increases; To Pay Maiden Dividend in 2024
06 November 2023 - 8:11AM
Dow Jones News
By Anthony O. Goriainoff
Ryanair Holdings said net profit for the first half of fiscal
2024 rose as traffic grew 11% to 105.4 million passengers and that
it will pay a dividend of 400 million euros ($429.3 million) in
2024.
The airline said that for the period ended Sept. 30, net profit
was EUR2.18 billion, up from EUR1.37 billion the year before.
Revenue was EUR8.58 billion compared with EUR6.62 billion the
year before.
The Irish low-cost carrier said that it will pay an interim and
a final dividend of EUR200 million each in February and in
September respectively.
"The board... will retain the flexibility to consider, when or
if appropriate, the return of surplus cash to shareholders through
special dividends and/or share buybacks," it said.
The airline backed its traffic guidance for the fiscal year of
183.5 million passengers but said this was dependent on Boeing
meeting delivery commitments, and that it expects pre-exceptional
profit after tax for fiscal 2024 to be in the EUR1.85 billion to
EUR2.05 billion range. It added that guidance was highly dependent
on the absence of unforeseen events such as the development of the
situation in Ukraine and Gaza.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 06, 2023 01:56 ET (06:56 GMT)
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