By Daniel Hunter

Ryanair has reported a 32% rise in profits for the first half of its financial year, prompting a boost to its annual profit forecasts.

The budget airline reported profits of €795m (£621m) for the period after a 4% increase in passenger numbers.

Ryanair is now forecasting full-year profits of €750-770m, up from initial estimates of €650m and expects passenger numbers to rise 16%.

However, the airline urged caution over the forecast, insisting that it was "heavily reliant" on bookings in the second half of the year.

Ryanair also confirmed an order for 200 Boeing aircraft with extra seats and more legroom.

"As these strong H1 results and raised full-year guidance demonstrate, our business model is performing well but much work remains to be done," Ryanair said in a statement.

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