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Three Quick Facts: Easyjet, Premier Foods, BT


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Easyjet capacity back to pre-pandemic levels by Q4

Easyjet [LON:EZJ] has published a half year report for the six months to 31st March, noting a £411m loss but sporting £3.5bn in cash. Q3 revenue per seat is expected to be up by 20% and forward bookings for the next two quarters are now at normalised levels. Capacity over the first half grew by 25% and passenger numbers advanced by more than 40% year on year. By Q4, capacity is expected to be at or around pre-pandemic levels.

#2. Premier Foods sees revenues, profits up as value proposition plays out

Premier Foods [LON:PFD] has full year results out today, with revenues up 11.8% and trading profits advancing by 13.5%. Investors are being rewarded with a 20% uptick in dividends after the company successfully navigated rising input prices with a combination of cost control and bumping up the prices it charges to retailers. The company aims to expand on its successful product innovation initiatives in the months ahead.

#3. Strong Openreach sales offset weakness elsewhere for BT

Final results from BT [LON:BT.A] are out today, with the company noting that it has delivered against EBITDA targets for the full year. Revenues of £20.7bn were recorded, down 1% but with strong sales in Openreach offsetting declines seen elsewhere. Pre-tax profits are down 12% with increased depreciation rates weighing here. Dividends are flat year-on-year – probably an astute move given the punitive price hikes that have been foisted on consumers – with the FY24 outlook being for growth to continue on a pro-forma basis.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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