easyJet’s record GBP317m profit as it hits the strategic sweet spot

When Carolyn McCall took over the reins as CEO at easyJet in 2010, a lot of wise heads shook and sagely gave her a year to make a mess of things. With no experience in what is a seriously complex operational business, in the throes of change and confronted by brutal competition, as the shades of economic growth were being drawn - not to mention the much unwanted attention of the "rich kid who started an airline" (to use his self-description) - easyJet's best days were behind it. And a high profile media woman was simply not up to the task.

After yesterday's annual financial results, as pre-tax profit rose 27.9% to GBP317 million, Ms McCall is going to need at least another year to make a mess of things. The record profit also allows the rich kid to make a tidy return on his investment, as the profit was accompanied by a dividend of GBP21.5 pence a share, and the share price rose 5%.