Demand for no-frills flights across Europe showed no signs of abating today as low-cost airline Ryanair posted a surge in full-year profits.

The Dublin-based group has spent the last 12 months ramping up its coverage across Europe, including new routes to Germany.

Today Ryanair showed the strategy had paid off by posting a jump in final sales, from 487.4 million euros (£314.9 million) to 624.1 million euros (£403.2 million).

That was despite the effects of foot-and-mouth disease and September 11 on tourism, as well as an eight per cent reduction in average fares during the year to March 31.

Passenger traffic grew 38 per cent to 11.1 million, while load factor - a key industry measurement showing passengers as a proportion of available seats - rose to 81 per cent.

Overall, full-year pre-tax profits jumped from 123.4 million euros (£79.7 million) to 172.4 million euros (£111.4 million).

Chief executive Michael O'Leary said the figures were "outstanding" and remained confident the group would continue to grow this year.