Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. easyJet full year results show post-pandemic recovery continuing
easyJet LON:EZJ has issued full year results this morning showing a record performance in Q4 and a continuation of the positive momentum as the airline rebuilds post-pandemic. EBITDAR came in at £674m, whilst the load factor hit 92%. Full year losses were £178m, against £1.1 billion a year earlier and the company notes that the outlook for FY23 is equally upbeat, with revenue per seat expected to grow by 20% and advance sales for the winter already some 25% up year on year, providing confidence in the face of rising fuel costs.
#2. 888’s Capital Markets Day to outline new roadmap
There’s a note from the gambling firm 888 LON:888 ahead of a capital markets day, which will include highlights including a revenue target of £2bn and a commitment to increase shareholder returns by pushing earnings per share to 35p by 2025. The company will also detail its evolved strategic plan following the acquisition of William Hill, reflecting the Group’s current operating environment. The enlarged business is seen as well placed to drive future growth.
#3. Wise interims paint picture of strong revenue & profit growth
Money transfer company Wise LON:WISE has issued results for the six months to 30th September. The note headlines with some slightly curious comparators – quarterly stats for customer numbers, half year for transaction values – presumably picked to flatter the position, but perhaps more reassuringly income for H1 was up 63% whilst pre-tax profits added 173%. Expectations are for income to grow by a further 55-60% for FY23 vs FY 22.
