Irish budget carrier Ryanair has posted a €451 million ($633 million) pre-tax profit for the full year to 31 March, a rise of 27%.
This figure did not take into account an exceptional charge of €29.7 million attributable to the disruption from the Icelandic volcanic eruption in 2010.
Ryanair's net profit rose 25% to €401 million.
Passenger numbers were up by 8% and an average 12% increase in fares drove revenues up 21% to €3.6 billion.
The airline's average load factor for the year increased slightly to 83%.
Ryanair expects a 10% increase in passenger numbers over the first half of this year and a 4% cut in the second half, giving overall growth of 4% to 75 million.
It is predicting a similar net profit for the current fiscal year.
But the airline is cautious, particularly as is expects operating costs per passenger to rise by 13% as a result of higher fuel prices. "Since we have limited visibility on bookings we remain concerned at the impact of the recession, austerity measures and falling consumer confidence on fares."