News Column

EasyJet sales up but shares fall

July 25, 2014

By Rob Davies, Daily Mail, London



July 25--Shares in easyJet have fallen back to a level last seen in December 2013, despite increased revenue and passenger numbers, writes Rob Davies.

Turnover increased 8.6pc to pounds sterling 1.24bn during the quarter, while passenger numbers rose from 9.4pc to 17.9m. Its aircraft were 90.4pc full, up from 88.2pc last year.

Turnover per seat was also up by 1.7pc to pounds sterling 62.47, despite an increase in 6.8pc capacity after easyJet bought slots at Gatwick from Flybe and increased its presence at Rome'sFiumicino airport.

The group said it expected pre-tax profit to grow from last year's record of pounds sterling 478m to a range of pounds sterling 545m to pounds sterling 570m.

Analysts had already pencilled in full year profits at the top end of the range and traders took profit as easyJet declined to offer any prospect of something even better.

Boss Carolyn McCall, pictured centre right, pointed out that profit was set to grow despite 'the situations in Israel, Egypt and Moscow'.

But the stock was the second worst performer in the blue-chip FTSE 100, falling 70p, or 5pc, to 1333p, a level not seen since early December 2013.

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(c)2014 Daily Mail (London, )

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Source: Daily Mail (London, England)


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