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easyJet: share up as FY results please investors

( - On Tuesday the British low-cost airline easyJet announced that it had returned to profit for its fiscal year to end-September, in particular thanks to a "record" performance over the summer.

Europe's second-largest low-cost airline, behind Ryanair, posted pre-tax profits of £455m for the year, in line with its forecast range of £440m to £460m and above the consensus of £444m.

Annual sales jumped by 42% to £8.17bn, underpinned by sound fare control, increased capacity and improved load factors.

Following this good performance, the carrier announced that it would again pay a dividend (4.5 pence per share).

In its press release, however, the group warns that the Middle East conflict will penalise its business this winter, while assuring that its current level of bookings suggests a "positive" outlook for FY 2023/2024.

In the wake of this publication, easyJet shares on the London Stock Exchange were up 2.5% in early trading on Tuesday.

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