StockMarketWire.com - Eastern Europe focused budget carrier Wizz Air posted a 91% jump in first-half profit, as higher ticket and ancillary revenue more than offset a rise in fuel costs.

Pre-tax profit for the six months through September rose to €387.9m, up from €202.8m on-year.

Revenue climbed 22% to €1.67bn and and earnings before interest, tax, depreciation and amortisation rose 20% to €609.1m.

The company narrowed its annual net profit guidance range to €335m-to-€350m, from €320m-to-€350m previously. In the first half, net profit was €371.5m.

'Wizz Air again reports all-time high financial results for the first half of our current financial year,' chief executive Jozsef Varadi said.

Cash and cash equivalents at the end of September stood at €1.63bn, while total liabilities including borrowings stood at €2.84bn.

'We are particularly pleased to report expanding net profit margin while delivering industry leading growth rates in an operating environment of higher fuel prices.'

Varadi said the company would continue to enhance its market position with the roll out of A321 neo aircraft, which he said would allow the company to continue widening its cost advantage over competitors.

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