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Ryanair RYA The Ryanair success story continues with a 43% rise in profit after tax following a 16% rise in revenue and 18% in passengers, whilst the opening of over 100 new routes saw it become the first airline to carry over 100 million passengers in a calendar year.
Basic earnings per share rose by 48%, average fares were cut by 1% and unit costs fell by 6%. Load factor has risen from 83% to 93% in two years. 2017 full year net profit is expected to rise by 13% subject to the strength of sterling.
Michael O’ Leary has both feet planted firmly in the Remain camp, reminding us quite rightly that it was the EU which forced airline deregulation on the high fare cartel of Europe’s national carriers, thus ushering in the era of budget airlines and cheap fares. That though, was in the eighties and the EU 30 years on is quite a different beast to what it was then. Now it would probably be giving national carriers all the protection they asked for and doing all it could to ensure that Ryanair never flew a single plane. He also warns that exit from the EU will be a long drawn out process, creating a lot of uncertainty.
MITIE Group MTO despite a 1.8% fall in revenue, Mitie claims to have had a good year, with strong profit and margin growth. Preliminary results for the year to the end of March show profit before tax surging by 133% to £11.25m and basic earnings per share up by 119.6%. The final dividend is being raised by 3.4% to 12.1p. per share, the 27th consecutive increase.
Stride Gaming STR is to pay a maiden interim dividend of 1.1p per share for the 6 months to the end of February after a 21% rise in net revenue and 42% in adjusted earnings followed a period of what the company describes as robust growth.
Cerillion CER is also paying a maiden interim dividend of 1.3p for the six months to the end of March. New orders for the half year rose by 50%, revenue by 11%, like for like revenue by 22% and adjusted profit before tax by 19%. The company says that the strong profit growth was in line with management expectations.
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