Ryanair clings to profit target as it navigates Brexit

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(Remko de Waal, AFP)
(Remko de Waal, AFP)

London - Ryanair Holdings surprised investors by reiterating its fiscal 2017 profit forecast, while warning that targets may come under pressure as Britain’s decision to quit the European Union and a string of terrorist attacks in major European markets weigh on demand.

While Ryanair is still forecasting that net income for the 12 months through March 2017 will rise to between €1.38bn and €1.43bn, the Brexit vote poses "significant risks to the downside during the remainder of the year," the Irish company said on Monday.

Ryanair shares rose as much as 7.2%, the most since September 9, before trading 5.8% higher at €11.54 in morning trade in Dublin.

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