Ryanair Posts Higher FY Profit

reported a 66 percent surge in its net income for the financial year. Ryanair's net income for the year climbed to 867 million euros ($949 million) from 523 million euros. Earnings per basic share increased to 62.59 euro cents versus 36.96 euro cents. Its sales gained 12 percent to EUR5.7 billion. The company had expected a net profit of EUR840 million to EUR850 million. Its traffic rose 11 percent, while load factor increased to 88 percent from 83 percent. For the full year to March 2016, Ryanair projects a net profit of EUR940 million to EUR970 million. Ryanair shares gained 1.45 percent to close at $65.19 on Friday.