The low cost airline posted full year results this morning with annual profits up by 34% and some exceptional growth being seen in terms of the contribution made by the company’s holidays division, too. Momentum is seen as being strong into the next financial year, although longer term expansion plans are being limited by a reduction in new aircraft arrivals. Load factors were stable year on year, but a 4% uptick in ancillary revenues also helped bolster performance. A dividend payment of 12.1p per share has been proposed, up from 4.5p a year ago and the easyJet share price is trading up just over 2% by 9am.
Full year results were issued by the FTSE-250 listed Auction Technology Group this morning. Revenues rose 5%, operating profits were 17% higher and trading in the early part of the new financial year shows an extension of recent positive momentum. There’s clearly optimism that the company has solid growth prospects off the back of this reports, with the ATG share price trading almost 14% higher shortly after the open, returning to levels not seen since the summer.
The pet retail and veterinary services company published interim results this morning, noting that the overall sector was struggling but citing its own outperformance against broader market trends. Pet retail is the laggard here, but revenues from the vet group services jumped more than 18%. Margins were flat and operating costs dipped slightly, but the expectation is that the sluggish performance is here for at least the short term. Full year profit expectations have also been reduced, whilst next year’s performance will be impacted by rising wage costs expected to run to £18m in the wake of changes announced by the government. The Pets at Home share price was 9% lower in early trade.
Most read news on Investegate this morning
Results for the 12 months ending 30 September 2024 - - easyJet (EZJ)
Final Results for the Year Ended 31 Aug 2024 - - Focusrite (TUNE)
