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Ryanair lifts profit guidance after strong first quarter

Ulrich Baumgarten | Getty Images

Ryanair boosted its annual profit guidance on Monday after booking a better-than-expected first quarter in which net income rose 152 percent from a year earlier.

The Irish airline raised its forecast for full year profit to between 620 million euros and 650 million euros ($832-$872 million) in the year to March 2015, up from a range of 580 million euros to 620 million euros previously.

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For the three months to June, it earned 197 million euros after tax, better than a forecast of 157 million euros in a poll of analysts conducted by the company and the 78 million euros it made a year ago.

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