Skip to content

Three Quick Facts: easyJet, THG and City Pub Group


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

#1. easyJet’s solid update sees full year forecasts upped

easyJet LON:EZJ has published a trading update for the six months to 31st March. This makes for robust reading with passenger numbers up 35% and management noting that they are set to beat market forecasts for full year profitability of £260m. Capacity is set to continue growing into the summer, with a return to pre-pandemic levels being seen by Q4 (July-Sept). The momentum adds up to a £1bn year on year revenue improvement over the last six months, with the CEO adding that customers appear to be prioritising travel spend, whilst favouring the likes of easyJet for its value proposition and destination mix.

#2. THG’s lacklustre full year results in wake of takeover bid

Online retailer THG LON:THG had a bumper day on Monday in the wake of that bid news although the stock remains well below IPO levels. Today’s full year numbers show revenues nudging slightly higher – up 2.7% YoY – but operating losses continue to mount, more than trebling to £495m. FY 23 is set to see low single digit revenue growth continue and the company continues to trim loss making divisions. Whether these numbers give long term investors the confidence to side with founder Matt Moudling over the idea that yesterday’s offer undervalues the business remains to be seen.

#3. City Pub Group’s upbeat 2022 leads into strong start for new year

City Pub Group LON:CPC has published full year results covering the 52 weeks to 25th December. As the industry continues to move out of the shadows of COVID, revenues at the company advanced 63% with a 280% increase in pre-tax profits also being reported. Management note that 2023 has started well, with like for like sales up by 13% and running above expectations. That is giving confidence on the basis that some inflationary pressures are abating, too. The update also adds that on current valuations, the estate alone is worth 150p per share.

Looking for great investing ideas? Sign up to our free newsletter.

Join us on WhatsApp

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

CME Group
FP Markets
Back To Top