Three things you need to know in the financial markets this morning from investment writer, Tony Cross
easyJet
easyJet has published its September passenger figures this morning, showing an upbeat picture for the month. Unlike peer Ryanair it hasn’t been afflicted by industrial action from its own staff and the upshot is impressive growth of 14.2% when compared with the same period last year.
However this has come at the cost of a modest 0.8% decline in the load factor. Capacity is growing – the challenge is filling those seats as oil prices keep climbing.
DFS Furniture
Full-year numbers from DFS this morning look rather disappointing, but the company is keen to stress it was a bad Q4 that skewed the readings and there has already been a turn around. Reported profits are down almost 50% despite group revenues – once recent acquisitions are taken into account anyway – growing by 14%.
The improvement in gross margin is also worth taking into account, but with peer ScS having published rather more upbeat numbers earlier this week, investors may not be all that forgiving.
Ted Baker
A half-way update from Ted Baker this morning shows the company making good progress against what’s accepted as being challenging market conditions. Group revenues are up 3.5% and shareholders will be rewarded with a 7.8% increase in the interim dividend.
Currency fluctuations may have proved flattering to the bottom line and exceptional items are dragging on profitability, but these numbers may well receive a positive reception.
