Skip to content
 

Three Quick Facts: Wizz Air, Mitie, Crest Nicholson

*

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

#1. Wizz Air fuel costs overshadow passenger growth

Full year results from Wizz Air [LON:WIZZ] are out today, covering the 12 months to 31st March and with the company continuing to see the impact of post-pandemic travel. Passenger numbers were up by almost 90% and revenues by 134%, although the operating loss nudged higher with fuel costs being a significant constraint. Management are focused on a return to net profit in FY24, but are confident that this can be achieved through strategic improvements including a comprehensive fuel hedging program.

#2. Mitie profits beat expectations, dividend upped

Mitie Group [LON:MTO] also has full year numbers out, again covering the 12 months to 31st March. Revenues hit a record high and contract renewal rates stand at 90%. Operating profits were down a couple of percent from last year’s level but still came in ahead of the top end of expectations. A final dividend of 2.2p per share is being proposed, up from the 1.4p paid a year ago.

#3. Crest Nicholson sales slowdown pushes completions, profits lower

Housebuilder Crest Nicholson [LON:CRST] has interims for the six months to 30th April out today. Revenues have fallen by more than 20% as a result of economic uncertainty – and presumably rising mortgage prices. However from a social perspective, there has been a marked increase in affordable housing completions. The economic headwinds have however hit profits with the pre-tax figure falling from £52m to £21m. The interim dividend is being maintained at 5.5p and expected full year profits remain in line with forecasts.

Like this article? Sign up to our free newsletter.

This article does not constitute investment advice. 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 Partners

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

Aquis
FP Markets
Pepperstone
WisdomTree
CME Group
Back To Top