Results round-up

Budget airline EasyJet posted a drop in revenue per seat and total revenue for the third quarter amid difficult trading that was hit by the terror attack in Brussels and the Egyptair tragedy.

For the quarter ended 30 June, total revenue per seat was down 8.3% at constant currency or 7.7% on reported basis to £54.54, while total revenue fell by 2.6% to £1.196bn as increased seat capacity was offset by the impact on yield of overall market capacity and cancellations as a result of external events.

EasyJet said its commercial and operational performance was affected by the Brussels attack and Egyptair tragedy, air traffic control strikes and congestion, runway closures at Gatwick airport and severe weather leading to 1,221 cancellations.

Still, the company said ongoing improvements to its customer proposition and other revenue initiatives helped to stimulate bookings, making up for part of the impact of disruption and other external factors.

The load factor – which gauges how full flights are – rose to 92% from 91.7% in the third quarter of 2015.

Unilever maintained its underlying rate of sales growth at 4.7% in the second quarter but first-half turnover fell and the fast moving consumer goods colossus said it was preparing for tougher market conditions as it sees no sign of an improving global economy.

Group sales decreased by 2.6% at current exchange rates to €26.3bn but increased by 5.4% at constant exchange rates, as consumer demand remained weak and in the markets in which we operate volumes have slowed further, with market volume growth low in emerging markets and negative in Europe and in North America.

While emerging markets grew 8.0%, driven by good volume growth in Asia and price growth in Latin America, developed markets were almost flat as volume growth just about offset price deflation in Europe.

With gross and core operating margins improving thanks to innovation, acquisitions and cost savings programmes, net profit was lifted 2.0% to €2.7bn and core earnings per share 1.3% to €0.92 at current exchange rates or 7.5% at constant rates.

Directors declared a quarterly dividend, payable in September, of €0.3201 per share.