RE: 3 x rns8 Nov 2018 17:20
Hellyeah - “H1 update was damning, if you can’t make money in the summer period”
The only thing damning is your lack of ability to read the trading update - conveniently one may suggest...
“the adjusted profit before tax for H1 is expected to be similar to last year (2017/18: £9.4m4). This is despite year-on-year cost increases of c. £17m arising from the lower value of sterling and fuel and carbon price increases”
“Iit is now estimated that the full year adjusted loss before tax will be of the order of £12m (2017/18: loss of £19.2m4), including the benefit of a c. £10m onerous lease provision release. This includes an estimated £29m of adverse year-on-year impact from weaker sterling, fuel and carbon prices.”
Sterling weakness will be addressed with the upcoming brexit deal, as will the fear of brexit itself. Oil price is weakening. Fleet size reduction is continuing as is the E195 handbacks with an end ludicrous lease terms, as cost cutting continues.