Major indices opened rather mixed this morning as investors continue to digest key economic data, including UK inflation, which fell to 7.9%.
Thursday has seen easyJet report record Q3 pre-tax profit, Dunelm anticipate profits to beat estimates, and Premier Foods showcase strong sales growth.
- easyJet’s trading update for the quarter ended 30 June saw the group report a record Q3 pre-tax profit.
- Headline profit before tax came in at £203m, an improvement of £317m on Q3 2022.
- Passenger numbers increased 7% YoY with its load factor up 2ppts.
- easyJet holidays continues to outperform, and is expected to deliver £100+m pre-tax profit in FY23.
- Dunelm reported robust sales and expects profits to beat estimates after announcing its Q4 and FY results.
- Full year total sales grew 6% YoY to £1.64b, with sales of £381m in Q4.
- This strong performance was against a difficult backdrop, however Dunelm forecasts FY23 profit before tax to be slightly ahead of market expectations.
- Shares of Dunelm are up 2.34% this morning.
- Premier Foods Q1 results showcased group sales up 21.1%, with branded sales jumping 17.5%.
- International sales were also strong, gaining 14%, as the group continues to expand its reach.
- As a result, FY23/24 trading profit is now expected to be at the top end of market expectations.