The Italian’s have done it. They have joined the growing list of countries whose peoples are sick and tired of their political establishments living lives completely divorced from the realities of the ordinary workaday world which most of us inhabit. The referendum has become the stock, shock weapon for taming the arrogant political elites of the world. The only question now is whether the bureaucrats of Brussels will try to find a way of banning them as being in breach of the Maastricht treaty or any other nonsensical reason they can think up for saving their tax free privileged lives and their dictatorial powers. Perhaps the usual catch all of health and safety would be appropriate.
As we forecast on Friday as a strong possibility, the Euro has fallen sharply this morning to over 1.20 to the pound bringing our currency speedily back to levels which our economic commentators and experts proclaimed would not be seen again for many a year. And this is only the beginning, The Italians now have to face an election with the possibility of Beppe Grillo as the winner.
Filtronic FTC traded strongly in the 6 months to the end of November and expects unaudited first half revenues will have reached £21.6m almost five times the total of £4.5m for the whole of 2016. The company cautions however that its success is based primarily on sales to one lead customer of its new ultra wide band antenna.
Ryanair RYA November traffic grew by 15% over last year, to 8.8m customers and load factor was up by another 2% to 95%. The airline advised customers to book their flights now for next summer
Purplebricks Group PURP claims to have caused a seismic shift in the UK estate agency market with its fixed fee revolution. Revenue for the 6 months to the end of October rose by 159%, exceeding the total for the whole of 2016. Gross profit for the half year surged from £4.1m to £10.2m and average revenue per customer rose by over 20%.