Ryanair trims profit forecast amid plunging sterling



Ryanair today became the latest airline to warn over the impact of the plunging pound as it said full-year profits would take a hit.
The Irish carrier blamed an 18 per cent fall in the value of sterling since the Brexit vote as it cut its annual earnings forecast by 5 per cent.
It said fares fell more than expected in the first half of its financial year – down 10 per cent – and were now set to drop by up to 15 per cent in the final six months as the Brexit-hit pound takes its toll.
Ryanair now expects full-year earnings of between €1.3 billion (£1.17bn) and €1.35bn, down from the previous... read more

 
18 October 2016 in Hot News, Views: 38
Source: Scotsman
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