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easyJet PLC on Tuesday said its annual earnings improved as it achieved its medium-term profit goal at the holidays arm ahead of schedule. The Luton, England-based budget carrier said pretax profit increased 9.3% to £658 million in the 12 months to the end of September from £602 million a year ago. Headline pretax profit increased to £665 million, up 9.0% from £610 million, while basic earnings per share jumped 9.1% to 65.8 pence from 60.3p. Revenue rose 8.6% to £10.11 billion from £9.31 billion. Chief Executive Officer Kenton Jarvis said: ‘Since setting our medium-term targets in 2023 we have made significant progress, delivering a 46% improvement in profit before tax, adding 9% this year through the continued, successful execution of our strategy. easyJet holidays is today launching an even more ambitious goal having achieved its target early.’ easyJet holidays achieved pretax profit of £250 million, ‘achieving its medium-term target ahead of plan’, the firm said. The division is now targeting £450 million in pretax profit by financial 2030. CEO Jarvis added: ‘Having recently celebrated our 30th birthday, I am proud of what easyJet has achieved. Very few companies remain as close to their roots as easyJet - making travel easy and affordable while contributing significantly to economic growth through increased connectivity, consumer choice and jobs. We are well placed to seize the significant opportunities ahead, and we are confident in achieving our medium-term goal of delivering over £1 billion in profit before tax.’ easyJet upped its dividend to 13.2 pence per share from 12.1p. Looking ahead to financial 2026, the firm said it expects available seat kilometres to grow by around 7%. It expects holidays customers to grow up to 15% from a base of 3.1 million customers. On forward bookings, easyJet said the first quarter of 2026 is 81% sold, up 2 percentage points compared to a year ago, while the second quarter is 26% sold, up 1 percentage point. For the first half of the year, easyJet holidays said it is 80% sold. On cost, total headline cost per annual seat kilometre is expected to see ‘modest inflation’ as cost and operational efficiencies with favourable fuel prices only partially offset market-wide cost inflation. Shares in easyJet were down 1.3% at 474.20p on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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