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Three Quick Facts: Hays, Entain and easyJet

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

#1. Hays posts record Q1

Recruiter Hays LON:HAS has a Q1 trading update out today. Total sales are up by 19% with permanent placements outstripping temporary jobs, making for a record quarter. The company notes a modest reduction in activity looking into Q2 as clients account for macroeconomic uncertainty buy key markets remain challenged by skills shortages and wage inflation, two factors which have the potential to keep the market vibrant for a while, yet.

#2. Entain: football World Cup eyed to support Q4

There’s a Q3 update out from Entain LON:ENT, the sports betting and online gaming company. Net revenue was up 2% although on a constant currency basis the figure was flat. The company notes healthy momentum going into the year end and online revenues are now expected to grow in the final quarter, helped by an easing of prior year comparators, with the football World Cup tipped to be pivotal. Management are mindful of the economic backdrop but add that the diversified revenue base should offer some valuable support.

#3. easyJet passenger numbers returning but losses still bite

easyJet LON:EZJ have released a full year trading update for the 12 months to 30th September. EBITDAR in Q4 is set to be in line with figures seen for the same period before the COVID pandemic whilst only operating 88% of the equivalent schedule, but losses for the full year are set to be in the £170m-£190m range. That does however include a £64m FX charge and £75m as a result of disruptions. Booked load factors are ahead of the equivalent in FY19 and the aifrline expects to fly some 20 million passengers in Q1, up more than 30% year-on-year.

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

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