Budget airline Ryanair has released its passenger figures for June this morning and the numbers keep on soaring. 7% more folk flew with the carrier than a year earlier, and the load factor – the average number of seats sold on a plane – remained constant at 96%. The numbers are even more impressive considering air traffic control strikes and staff shortages saw 1100 flights cancelled, up from just 41 last June.
Interim numbers from RM, the supplier of computers to schools, have impressed thanks to the company’s acquisition of The Consortium. Thi drove revenues up by 33% although profit seasonality of the newly acquired arm of the business is being used to explain a modest decline in margins. Synergies of £4m p.a. are expected by 2020 and this will be worth watching, given the half year operating profit was in the region of £8m.
Ofwat has published changes to the pricing methodology water supply companies will be using. Essentially it’s a bid to improve the customer relationship by removing incentives for financial engineering and make sure these companies are working for the consumers – but on the flip side that’s likely to erode shareholder value.