Ryanair trims 2017 profit forecast as British pound weakens

October 18, 2016 8:57 AM

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DUBLIN – Budget airline Ryanair has cut its 2017 profit forecast citing the slump in the British pound.

The Irish-based carrier reports earnings in euros but does hefty business in the United Kingdom. Chief Executive Michael O'Leary says the 18 percent drop in the pound's value since Britain voted in June to leave the European Union has hurt the euro value of 26 percent of the airline's sales.

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