EasyJet Slashes Dividend As Annual Profit Falls 17%

Carolyn McCall the CEO easyJet attends an'Inspiring Women speed networking event for 100 girls from state secondary schools in Lancaster House

Pre-tax profits at easyJet slumped 24pc to £385m past year, despite a record 80.2m travellers choosing to fly with the budget airline.

EasyJet cut its proposed ordinary dividend per share by 12.9% to 40.9p, in line with its policy of a pay-out ratio of 50% of headline profit after tax, which came in at £325mln.

Revenue trends in the first quarter of the new year have been "encouraging", primarily as a result of some capacity leaving the market, easyJet said.

Revenue rose 8.1 per cent from the same time previous year to £5bn, but pre-tax profits dropped 17.3 per cent to £408m.

Headline profit after tax in the recently-ended financial year declined over 30% to GBP305.0 million from GBP437.0 million.

Pre-tax profits fell 17% to £408m after what it called a "difficult year".

Mauricio Pochettino denies rift with omitted Spurs defender Rose
We are going to play with our best team, fresh players, not taking risks because their health is most important". I think a big foreign player would choose Arsenal.

Amir Khan throws the towel in on bug task
Amir tried to justify his actions by saying: "This was my first trial, I thought you'd take it easy on me, I'm scared of snakes". Fans of the ITV show are convinced that the famous boxer will end up being forced to attempt every trial in the series.

Nick Cave to Roger Waters: You're the Reason I'm Playing Israel
One is I love Israel and I love Israeli people. "It is a political and moral decision to stand with the oppressor against the oppressed".

EasyJet Plc predicted a gain in prices this winter after earlier forecasting a decline as the collapse of rivals including United Kingdom -based Monarch Airlines Ltd. removes excess capacity in some of its biggest markets. The budget airline took 80 million passengers over the course of the year - a growth of 8.5 percent.

Earlier this month, the carrier announced Tui's Johan Lundgren will take over in December from McCall when she departs for ITV.

In the latest set of financial results before outgoing chief executive Carolyn McCall leaves the company, easyJet added the turmoil experienced by some of its main competitors over the last few months had proved beneficial.

Going forward, easyJet said that it was planning to grow capacity by around six percent for the 2018 financial year.

In October easyJet agreed a deal to acquire part of Air Berlin's operations at Tegel airport for €40bn (£35.4bn) and it is also bidding for some of Alitalia's business.

It expects £100mln in one-off non-headline costs associated with the deal, due to the "parallel ramp up of a dry lease operation, including fleet conversion and staff recruitment and training costs, as well as transaction costs".

Related News:

Most liked

Holiday closings for the Thanksgiving holidays
In observance of the Thanksgiving holiday, Grovetown offices in City Hall and Liberty Park Community Center will close at 1 p.m. Garbage and recycling collection will be suspended Thanksgiving Day, Nov. 23.

Volkswagen to invest $27 bn in core brand until 2022
But VW held onto its crown as the world's largest automaker and the group's share price recently recovered to pre-crisis levels. German carmaker Volkswagen plans large-scale investments in the production of electric vehicles in China.

New J&K surrender policy to target local militants
Director General of Police (DGP) of Jammu and Kashmir, has told that the three Terrorists had Pakistani Nationality. Army's Srinagar based Chinar Corp, however, confirmed the killing of only two militants.

India vs Sri Lanka: Virat Kohli Left Fuming By Niroshan Dickwella's Antics
Dhawan, meanwhile, struck 94 in the second innings after a score of 8 on the opening day. The visitors were expected to comfortably bat out the last session and a bit.

Russia's Putin Hosts Syria's Assad For Talks
The meeting , according to the Kremlin , happened on Monday evening in the Russian Black Sea resort of Sochi, where Putin has a residence.

Florida 'advancing discussions' with Chip Kelly
He didn't confirm those rumors when SportsCenter's Kevin Negandhi asked about his interest in the job Sunday morning, however. Prior to that, he spent four years as the head coach at OR , his only head-coaching experience in the college ranks.

Lizzy Caplan in Talks for Channing Tatum's 'Gambit'
According to Variety , Masters of Sex star Lizzy Caplan has been cast in the solo film set in the X-Men universe. The actress is in negotiations to star in Gambit opposite Channing Tatum, The Hollywood Reporter has confirmed.

Trump Follows Through On Promise To Shut Down His Charity
The Washington Post said one of Trump's golf courses repaid more than $158,000 to the foundation for funds used to settle a lawsuit against the club.

Sarah Sanders Orders Press To Say What They're Thankful For Before Questions
I'm thankful to have never sat through a White House press briefing where I was expected to say what I was thankful for. I'm thankful for the police, the firemen and first responders who keep us safe here at home .

Tesla Power Bank Is Great Holiday Gift For Tesla Fans
Tesla notes that the accessory was modeled off of the same 3D CAD data used to manufacture the actual Supercharger. Electric auto maker Tesla has released a power bank that can charge Android phone or iPhone on the go.

U.S. ending temporary permits for almost 60000 Haitians
The agency extended the program for six months in May, instead of the usual 18. They have 18 months to leave the US , senior administration officials said.

Robert Mueller's Team Has Requested Documents From The DOJ
Special counsel Robert Mueller says a lawyer for one of Donald Trump's former campaign aides may have a conflict of interest. Mueller's team is interested in the interactions between Justice Department officials and the White House.

Roy Moore accuser says she was not paid to tell her story
Luther Strange in the September 26 primary to determine Sessions' successor and campaigned in the state, a Republican stronghold. The special election will determine who fills the remainder of Attorney General Jeff Sessions' term, until January 2020.

F-22 Raptors from Tyndall Used in Afghanistan Bombing Raid
For their part, authorities in Pakistan deny the existence of any insurgent sanctuaries on its soil. Trump in August "allow me to go after revenue streams of the enemy", General Nicholson said.

India battles Britain to get its candidate re-elected to ICJ
Bhandari was today re-elected to the last seat of the Hague-based ICJ after Britain withdrew its candidate from the election. In June, the General Assembly voted to refer the legal status of the British-ruled Chagos Islands to the ICJ.