Jet2 delivers 'record performance' in H1, raises FY guidance

Jet2

1,518.00p

13:49 21/11/24

7.05%

100.00p

Airline company Jet2 said on Thursday that it had delivered "another record performance" in the six months ended 30 September, leading the group to upgrade its full-year outlook.

FTSE AIM 100

3,526.17

13:50 21/11/24

n/a

FTSE AIM 50

3,919.54

13:50 21/11/24

n/a

FTSE AIM All-Share

725.82

13:50 21/11/24

n/a

Industrial Transportation

4,430.33

13:49 21/11/24

-0.46%

-20.47

Jet2 said interim revenues were up 15% at £5.09bn, while profits before foreign exchange revaluation and taxes were 16% higher at £722.4m. Post-tax profits were up 20% at £592.9m.

The London-listed group also said basic earnings per share had grown 21% to 279.3p and hiked its interim dividend 10% to 4.4p.

Jet2 said its strong first-half performance was mainly driven by an increase in passenger numbers from 11.97m to 13.34m as both package holiday and flight-only sales increased, as did capacity.

Looking ahead, Jet2 said FY pre-tax and foreign exchange-adjusted profits would likely come in ahead of the company-compiled average market forecast of £541.0m.

As of 1020 GMT, Jet2 shares were up 5.84% at 1,500.75p.

Reporting by Iain Gilbert at Sharecast.com