Trending: Ryanair Net Profit, Revenue Rise on Higher Passenger Numbers

0922 GMT -- Ryanair Holdings is among the most mentioned companies across news items over the past four hours, according to Factiva data, after reporting a rise in first-half net profit and revenue. The Irish low-cost carrier said an 11% increase in traffic to 105.4 million passengers in the period helped net profit rise 59% to 2.18 billion euros ($2.34 billion) as revenue increased 30% to EUR8.58 billion. Furthermore, the board said it will pay EUR400 million in dividends next February and September, and that it is retaining the flexibility to return surplus cash to shareholders through special dividends or share buybacks. Despite this the airline's cash balance will continue to grow, Bernstein analysts Alex Irving and Tobias Fromme say, adding that the company has taken a major step toward becoming a cash return stock. "This will likely not be the only capital return shareholders enjoy," analysts say. Dow Jones & Co. owns Factiva. ([e-mail])

(END) Dow Jones Newswires

November 06, 2023 04:38 ET (09:38 GMT)

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