Updates from easyJet, AMEC and Dunelm Group

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savings, tax, stockmarket, pensions, cash, investment FTSE 100
savings, tax, stockmarket, pensions, cash, investment FTSE 100

More damage to the FTSE 100: the index tumbled 1.69% on Thursday, cut 111 points, to 6,446.3. Sainsbury's shares fell sharply again, down 3.93% to 224.80p while Ashtead Group gave away 4.59% to 977p. BG Group also fell hard, down 3.61% to 1053p; Weir Group was another Thursday sell-off victim, down 3.58%.

Compared to the FTSE, the US Dow Jones held more or less still at 16,801, down just 3.6 points.

First, a trading update fromeasyJet. Striking French pilots have helped boost revenues for the airliner, pushing up revenues by £5m thanks to people switching carriers. Revenue per seat at constant currency for the three months to 30 September 2014 is expected to climb 1.5%.

Revenue per seat at constant currency for the six months to 30 September 2014 is tipped to grow by around 2% says easyJet. Unit fuel costs are more favourable, plus there's a £15m boost from more positive exchange rate movements.

"We finished the year strongly," says boss Carolyn McCall. "Our performance demonstrates our continued focus on cost and progress against all our strategic revenue priorities and further emphasises easyJet's structural advantage against legacy and low-cost competition."

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EasyJet Shows Off Aviation Tech
EasyJet Shows Off Aviation Tech


Next, new numbers from engineering player AMEC. Trading since mid-summer has been in line with expectations it claims with less greenfield activity in upstream oil and gas markets offset by strong growth from Clean Energy and Middle Eastern Oil & Gas, AMEC claims.

It expects to see modest underlying revenue growth in 2014. The mix of business will result in a slight reduction in group margins compared to last year. As in 2013, profits and cash flow will get tipped towards the second half.

Actual exchange rates year to date, and forecast average North American exchange rates for the remainder of 2014, continue to be less favourable than 2013 for the company.

Lastly, homewares and soft furnishings retailer Dunelm claims total sales in the last quarter soared 17% to £180.6m. Robust like-for-like growth reflects weak performance during the comparable quarter last year when footfall was subdued by warm weather.

Gross margin has continued to increase year on year, with an estimated 40 basis points rise compared with the equivalent quarter last year, Dunelm claims.

"As we look forward," it claims, "our focus is very much on driving sales. We intend to capitalise on the significant investments we have made, and continue to make, across our business to underpin long term growth."

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