Wizz Air shares sunk over 2 percent on Wednesday, despite a 3.6 percent rise in profits in the third quarter.
Profits were boosted by a large jump in revenue, that was only partially offset by higher fuel costs. Total revenue increased 24 percent to €422.9 million, with ticket revenues up 26.1 percent to €241.7 million.
Ancillary revenues grew 21.3 percent to €181.1 million and profit for the period was a record €14.0 million in Q3, a year on year increase of 3.6 percent.
The airline, which operates flights largely from Eastern Europe, confirmed its full-year profit guidance of between €265 and €280 million.
József Váradi, Wizz Air Chief Executive said:
“Our strong performance over the first nine months of the financial year and an encouraging upcoming Easter has enabled us to increase fourth quarter growth and deliver 25 percent more passengers to nearly 30 million passengers for the full financial year.”
Despite this, Wizz Air shares are currently trading down 2.38 percent at 3,491.00 (0822GMT).
