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easyJet Blames Brexit For Weak Customer Demand And Soft Yield – Ian Pollard

easyJet plc EZY is not really looking forward with enthusiasm to its results for the six months which ended on the 31st March. Even for its winter period things look to have been difficult. Whilst revenue is expected to have grown by 7.3%, that was from seat capacity which was up by 14.5%, Revenue per seat is expected to have declined by about 7.4% Total headline costs in the first half are expected to increase by circa 18.8% due to increased capacity, higher fuel unit costs and a modest increase in cost per seat excluding fuel. easyJet is not backward in calling on Brexit to share the blame for its performance. Weaker customer demand which is being experience is blamed directly on macroeconomic uncertainty and “many unanswered questions surrounding Brexit”. Ticket yields in the UK and across Europe are also showing increasing signs of softness. All this uncertainty makes the company cautious about the future.Good to see that only external causes are to blame for the problems and they are nothing to do with management.

Sports Direct Intl plc SPD Mike Ashley has become so concerned for the future of other shareholders of Debenhams that he has written to the Debenhams Board in the hope that he can help it by demanding that it takes immediate steps to install him as CEO, The reason behind his thinking is that there is clearly no time to wait for a General Meeting to be called in order for this to be effected by shareholders. Giving shareholders their democratic rights, is it seems to be carefully avoided in some circumstances.

Codemaster Group Holdings CDM updates that trading through the second half of the year has continued to be strong. The Company anticipates reporting FY19 revenues of c.£71 million for the year to the end of March and adjusted EBITDA ,ahead of market expectations at .£18.5 million.

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