Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. easyJet full year profits tipped to beat expectations
There’s a Q1 trading update out from easyJet LON:EZJ this morning, covering the period to 31st December. A solid year on year improvement has been posted, with the company adding that momentum is continuing well into the second quarter. Load factors are up, ticket yields are improving and easyJet holidays have contributed a £13m profit. Management are also upbeat when it comes to the outlook, with comments noting delivery of a full year profit and beating current market expectations.
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#2. 88 Energy quarterly activity report issued
There’s a quarterly activity report from oil explorer 88 Energy [LON:88E]. Highlights within the note include the fact the company has AU$14m in cash and no debt, plus news that it expects the project formerly known as Icewine East to spud in around five weeks time, subject to permits.
#3. Wetherspoon’s trading update shows December outperformance
JD Wetherspoon LON:JDW has this morning issued a trading update for the six months to 29th January. Like for like sales for the period were up 13.1% year on year but 0.7% lower than pre-pandemic. The note adds however that in December sales were 21.3% higher year-on-year against an industry average of 15% – perhaps underlining the customer quest for better value as living costs bite – and chairman Tim Martin notes he is cautiously optimistic about the prospects for the financial year.
