Ryanair has reported a better-than-expected 68 per cent jump in first-quarter net profit today.
The airline posted profit after tax of €39 million ($38.4 million), with revenues up 29 per cent to €194.3 million and basic earnings per share 61 per cent higher at €5.16 cents.
But the company - which also announced a rise in passenger traffic of 38 per cent in the quarter - warned that much of the profit growth in the period was due to the impact of launch costs for new routes in the preceding quarter.
"We will not repeat a 68 per cent 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," Ryanair said.