StockMarketWire.com - Eastern European focused budget carrier Wizz Air booked a 6% rise in full-year profit after it ramped up flying capacity to new destinations in Europe.
Net profit for the year through March rose to €291.6m, up from €275.1m on-year.
Revenue jumped 20% to €2.3bn as the airline carried 17% more passengers.
For the current financial year, Wizz Air said it expected its net profit to grow to €320m-to-€350m, despite warning of another 'very challenging' operating environment.
'We remain very optimistic for the current financial year,' chief executive Jozsef Varadi said.
'Higher fuel prices are supporting a stronger fare environment and we expect these macro conditions to provide Wizz Air with market share opportunities as weaker carriers withdraw unprofitable capacity.'
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.