Updates from easyJet, Euromoney and SuperGroup

Adrian Holliday
savings, tax, stockmarket, pensions, cash, investment FTSE 100, SuperGroup, easyJet, Euromoney
savings, tax, stockmarket, pensions, cash, investment FTSE 100, SuperGroup, easyJet, Euromoney


The FTSE 100 re-crossed the 7,000 barrier on Wednesday, down almost 29 points to 6,990.9. TUI AG and BG Group took the biggest rises however, up, 2.6% and 1.7% (to 1214p and 895.7p). However ARMHoldings fell steeply, down 6% to 1127p; SageGroup fell 2.7% and Barclays shares were down 2.5% to 251p.

The Dow Jones took a much more substantial hit, down almost 293 points to 17,718.5 - strong dollar worries and more weak economic numbers - with Microsoft and Intel taking 3.3% and 2.9% falls. However Kraft shares surged on the Heinz merger.

We commence with a pre-close statement from easyJet. The carrier claims it's had a £20m boost from recent currency gusts; for the six months to 31 March it anticipates profits of £10m. There's also better news on revenue-per-seat guidance.

Second half bookings are in line with last year. However, further volatility around currency rates and the oil price is likely to continue into the second half, the airline cautions.

"easyJet continues," says boss Carolyn McCall, "to be well positioned to deliver sustainable returns to shareholders due to its compelling network, low cost base and strong balance sheet."

Next, we move onto online information player Euromoney. The tough market conditions highlighted in its last trading update have shown no signs of improvement it says.

Pressures on the investment banking sector - roughly half the group's revenues - and on fixed income, currency and commodities activities offsets improving performance from asset management.

Total revenues for the six months to March 31, 2015 are expected to show a headline increase of about 1% on 2014 it says while the adjusted operating margin "is expected to fall by at least two percentage points".

Lastly, an update from SuperGroup. SuperGroup has acquired the rights to distribute Superdry products in North America. The cost for this is £22.3m, funded from the Group's assets.

Taking control of its product and presence in the US is important in creating a global base it says. There will be a "progressive" dividend policy at around 3.0-3.5x.

British actor and rapper Idris Elba will collaborate with Superdry "to design and produce a premium line of clothing which will be sold globally in stores and online, as well as through wholesale partnerships from Autumn/Winter 2015."

Kraft and Heinz Merger Creates Opportunities for Overseas Growth
Kraft and Heinz Merger Creates Opportunities for Overseas Growth


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