10 Jun 2016 08:42
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Don't have an account? Click here to register.Flybe H1 profit down but revenue and passenger numbers rise
Wed, 09th Nov 2016 09:09
(ShareCast News) - Flybe reported a drop in pre-tax profit in the six months to the end of September amid challenging markets, but revenue and passenger numbers rose.Pre-tax profit declined 15.9% to £7m, taking a hit from the fall in the value of the pound which increased the cost of US dollar loans on aircraft, while adjusted pre-tax profit fell 5.2% to £15.9m.Group revenue rose to £383m from £339.6m in the first half a year ago, driven by higher passenger volumes in Flybe UK, further development of White Label operations and increased revenue in Flybe Aviation Services.In Flybe UK, revenue was up 10.2% to £364.6m, with a 13.5% increase in seat capacity as additional aircraft were deployed.Meanwhile, passenger volumes rose 7.1% to 4.8m, but the load factor - which gauges how full the planes are - fell by 4.3 percentage points to 72%.Executive chairman Simon Laffin said: "We have completed the transformation, which started three years ago. Next year, for the first time since the IPO in 2010, we will have control over our aircraft capacity. We can begin to move from being a supply-driven business to a demand-driven business. This will free us for even greater focus on implementation excellence and refining route profitability."As passenger numbers are still rising across the industry, we see further revenue opportunities. The aviation market is tough at the moment, with excess seat capacity in the European short-haul market coupled with a weaker pound, and both business and consumer uncertainty impacting all airlines."Numis said the results were "encouragingly resilient", with adjusted pre-tax profit ahead of its estimate of £14.5m.At 0930 GMT, the shares were up 2.6% to 35.90p.
More News
9 Jun 2016 12:44
Broker tips: Antofagasta, RPC, Flybe
(ShareCast News) - Antofagasta shares dropped on Thursday as Canaccord Genuity downgraded the stock to 'hold' from 'buy' and lowered its target price to 475p from 550p. Canaccord said changes to the Chilean tax regime through 2018 may put pressure on Antofagasta's net margin and dividend. "The comp
Read more9 Jun 2016 12:26
Flybe rated as 'buy' with 132p target price by Numis
(ShareCast News) - Flybe shares fell almost 5% as Numis rated the stock as a 'buy' with a 132p target price. Numis said Flybe's reported pre-tax profit of £5.5m, from a £25.4m loss, was ahead of the brokerage's forecast for £3m. This meant the regional airline had achieved an important milestone in
Read more9 Jun 2016 12:08
Flybe returns to FY profit, issues cautious outlook
(ShareCast News) - Shares in Flybe fell almost 5% as the regional airline returned to full-year profit on improved revenue, despite the impact on bookings due to terror attacks in France and Belgium, but issued a cautious outlook. Pre-tax profit was £2.7m, from a re-stated loss of £23.6m a year earl
Read more2 Jun 2016 15:09
29 May 2016 15:07
Sunday share tips: Flybe, United Utilities, FairFX
(ShareCast News) - Sell shares in Flybe, was the verdict of the Sunday Times' Inside the City column as prospects for profits look limited. A week and a half away from full year results, shares in the regional airline are flying at 53.5p, half the level they started 2015 and valuing the company at a
Read more7 Apr 2016 10:43
Flybe descends to six-month low on weak demand and dollar uncertainty
(ShareCast News) - Low-cost airline Flybe said it was on track for its summer trading as it reported stable passenger numbers for the fourth quarter and said 2016 results are likely to be in line with market expectations. In a trading statement for the quarter ending 31 March, the company said seat
Read more7 Apr 2016 10:00
Flybe progress overshadowed by booking uncertainty and currency costs
* Says on track for 3 mln stg FY pretax profit * For 6 mths to Sept. 30, 21 pct of capacity sold, down 3 pct pts * Strong dollar to cost 7 mln stg in 2016/17 financial year * Shares down 8 pct, hit lowest in 11 months LONDON, April 7 (Reuters) - Shares in Flybe slumped to
Read more31 Mar 2016 15:15