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easyJet: shares rise on 'robust' annual performance.

(CercleFinance.com) - British low-cost airline easyJet said on Tuesday that it delivered "robust performance" for the year to 30 September 2017, and gave an "encouraging" outlook for the new fiscal year.

Headline pre-tax profit reached 408 million pounds in the past fiscal year, down 17% from 494 million pounds in the previous financial year.

As a reminder, the company had given an annual pre-tax profit estimate of between 405 million pounds and 410 million pounds, with the consensus at 403 million pounds.

"easyJet delivered a robust performance during a difficult year for the aviation industry," easyJet's chief executive Carolyn McCall said.

Set to leave for British broadcaster ITV, she will replaced on 1 December by Johan Lundgren, previously deputy CEO of TUI Group.

The group said that revenue trends have been "encouraging" in the first quarter of the new financial year, and added that it expected to resume dividend growth in the 2018 financial year after slashing its dividend for the past financial year by 24%.

Shares in easyJet, which have risen 33% so far this year, are currently up 3.7% at 1,325 pence, valuing the company at around 5 billion pounds.

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