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Ryanair profits drop after 'tough year'

19 May 2014 Last updated at 13:46 BST

Ryanair's full-year profits have fallen for the first time in five years.

Net profit fell to 523m euros ($717m; £426m) for the year to March, down from 569m euros in the previous year.

Howard Miller, Chief Financial Officer for Ryanair, said the year was "difficult" as oil prices were high and holidaymakers chose to stay at home.

He told BBC Radio 5 live's Adam Parsons: "It was a tough year last year, but we see a very good out-turn this year with profits rising."

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