Ryanair H1 profit up 80 pct, may end rapid growth

DUBLIN Nov 2 (Reuters) - Irish airline Ryanair (RYA.I) posted an 80 percent rise in first-half profit and said on Monday it could reverse its long-standing strategy of rapid growth and distribute cash to shareholders instead.

Net profit before exceptional items in the six months to the end of September came in at 387 million euros, compared with a forecast of 377 million euros by Ryanair's house brokers Davy.

Europe's biggest budget carrier said its talks with Boeing (BA.N) on an order for 200 aircraft had not progressed much, adding it could end its traditional relationship with the aircraft maker.

"We see no point in continuing to grow rapidly in a declining yield environment, where our main aircraft partner is unwilling to play its part in our cost reduction programme," Ryanair Chief Executive Michael O'Leary said. (Reporting by Andras Gergely and Antonella Ciancio; Editing by Jon Loades-Carter)