Ryanair warns of sharp profit fall as recession bites

DUBLIN May 21 (Reuters) - Ryanair :

* Posts net profit of 503 mln eurs in 12 months to March 2012 (vs. f'cast 491 mln euros)

* FY12 EPS 34 euro cent vs 33 cent analyst forecast

* Proposes 34 eur cent per share special dividend (483 mln eur) payable in Nov 2012 subject to AGM approval

* Sees 400-440 mln eur net profit in year to March 2013 (analyst f'cast 510 mln)

* Says recession, austerity, currency concerns and lower fares to hit FY13 profit

* Traffic to grow 5 pct in FY13 to 79 mln pax, fuel bill to rise 320 mln eur (90 pct hedged)

* Expects to report Q1 profit fall due to higher fuel prices