Updates from easyJet, TUI Travel and Interserve


The FSE 100 edge higher on Monday, ending 37 points up at 6,851.7. Miners dug the way with Rio Tinto up 4.75% at 3340p and Antofagasta up 3.51% at 796p. BSkyB though slipped 2.42% to 868.50p and BT also dipped appreciably, down 2.14% to 374.30p.

The Dow Jones surged forward, up 112.13 points, to 16,695.4, hitting an all-time high helped by gains from Facebook and Twitter.

We begin with a six-month interim from TUI Travel. The company says it remains confident of delivering full year underlying operating profit growth of between 7% to 10% on a constant currency basis; TUI is "pleased" with summer 2014 trading overall.

Statutory operating loss improves £32m to £315m (H1 2013: £347m) while the interim dividend rises 8% to 4.05p (H1 2013: 3.75p).

"We are particularly pleased," says boss Peter Long, "with the result in Germany, where we are making significant headway in improving operating margin and are on a similar journey to that of the UK."

Next, new six month numbers from easyJet. Total revenue per seat increased 1.5% year on year on a constant currency basis, and by 2.6% per seat on a reported basis, to £54.80. Total revenues climb 6.3% to £1,702m.

Average load factors increased 0.4 percentage points to 89.0% whilst capacity grew by 3.6% to 31.1 million seats. In the six months to 31 March 2014, easyJet returned £308 million or 77.6 pence per share to shareholders.

"The results," says easyJet boss Carolyn McCall, "reflect our on-going progress against our strategic priorities, and demonstrate the structural advantage easyJet has against both legacy and low cost competition in the European short haul market."

We end with an interim from Interserve. The support services player says trading is in line with Board expectations for 2014. During the quarter it has won work from the UK's Department for Education, Christie NHS Foundation, Foreign & Commonwealth Office and Mercedes-Benz.

Interserve also claims its Landmarc Support Services has won a £322m contract with the MoD to manage its National Training Estate Prime contract.

"Year to date performance for the Group," says chief exec Adrian Ringrose, "is as expected and early progress with Initial is on-track, which underpins our confidence in meeting expectations for 2014."