Ryanair has posted a Q1 profit of €39 000 000 / US$38 400 000 - far exceeding expectations.
Revenues grew 29% to €194 300 000 / US$190 452 860.
However, despite a 38% rise in traffic for Q1, profit growth will slow due to costs of launching new routes.
"We will not repeat a 68 percent growth in net profits in Q2, and going forward expect to see profit growth running in line with previous guidance for the remainder of the year," Chief Executive Michael O'Leary said.
Ryanair has also converted 50 options on Boeing aircraft to firm orders. "These additional orders will enable Ryanair to grow at the slightly faster rate of 30 percent for the next two years to just under 20 million passengers in 03/04."
The average load factor was 83%.
More information at the BBC NEWS Online website
and Reuters / Yahoo website
Information was gathered from the above hyperlinked webpages. Full information can be viewed by clicking the two above hyperlinks. Currency conversion from €uros to US Dollar courtesy of the Singapore Airlines Currency Converter
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