Updates from Easyjet and Kingfisher

The FTSE 100 slipped -0.39% yesterday to 6,597, down almost 26 points. Glencore Xstrata was the biggest climber, up +5.09% to 282.70p while Tullow Oil saw the biggest drop, down -6.64% to 1041p, following exploration disappointment in Mozambique.

Overnight, the Nikkei 225 retreats -0.35% to 14,727 while the Hang Seng slips -0.04% to 21,907. %VIRTUAL-SkimlinksPromo%We start with Easyjet and an interim for the last quarter up to 30 June. Total revenue for the quarter grew +10.5% to £1,142 million, driven by a +3.6% increase in capacity and improvement in revenue per seat. Revenue per seat grew +6.7% to £61.44 per seat.

The load factor of 88.2% was 0.9 percentage points lower than last year, driven by the timing of Easter which fell on 31 March 2013, a week earlier than in 2012, says the company. Passengers carried increased by +2.6% to 16.4 million.

"With 73% of second half seats now booked, easyJet expects profit before tax for the year to 30 September 2013 to be between £450 million and £480 million compared to the £317 million profit before tax reported in the prior financial year," says Easyjet boss Carolyn McCall.

Next, global caterer and support services Compass Group, and another interim. Compass claims "good performance"; overall expectations for the full year remain unchanged. North America and Fast Growing & Emerging grew strongly, whilst the difficult economic conditions in Europe & Japan continued as expected, the company says.

Organic revenue growth in the quarter was +4.0% on a comparable working days basis and for the nine months to 30 June 2013, organic revenue growth has been +4.5%. Compass has signed an agreement to draw £325 million of new debt through a private placement with US institutional investors.

"The pressure we have seen on like-for-like volumes in Europe & Japan is expected to continue, but we remain confident that the actions we are taking on cost will enable us to manage this," says the company.

Lastly, a Q2 update from Screwfix and B&Q owner Kingfisher. Total sales in the UK & Ireland were up +3.6% (+2.5% like-for-like), helped by the good weather. B&Q total sales were up +1.7% (+1.9% LFL) with sales of outdoor and seasonal products up nearly 20%, representing almost 40% of total sales. Screwfix sales grew by +17.8% (+6.6% LFL).

Total sales in France were up 3.4% (+1.1% LFL) benefiting from some reversal of the Q1 negative calendar impact of around 1.5%, the company says. Investor interest in the company has increased recently, partly due to the Government's Help to Buy scheme.

"Following a tough Q1," says boss Ian Cheshire, "I am pleased to report that we have been able to capitalise on the better weather conditions in Q2, particularly in the UK, which has helped us to deliver growth. However, underlying consumer confidence remains weak in our major markets."

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