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3-Oct-2013 4:58 PM

easyJet raises pre-tax profit forecast for the 12 months ended 30-Sep-2013

easyJet raised (03-Oct-2013) its pre-tax profit forecast for the 12 months ended 30-Sep-2013, stating: "The Board’s expectation is for a pre-tax profit for the twelve months ended 30 September 2013 of between £470 million and £480 million compared with the previous guidance of £450 million to £480 million." Revenue per seat at constant currency for the three months to 30-Sep-2013 is expected to grow by around 6% driven by strong demand in Jul-2013 and Aug-2013. Despite the political unrest in Egypt and the GBP25 million adverse impact in the second half of the year from the movement of Easter which fell on 31-Mar-2013, a week earlier than in 2012, revenue per seat at constant currency for the six months to 3-Sep-2013 is expected to grow by around 6%. Cost per seat excluding fuel growth at constant currency of around 4% is expected to be in line with the guidance issued on 24-Jul-2013, with the year on year increase driven primarily by higher charges at regulated airports. It is expected that easyJet’s unit fuel cost in the six months to 30-Sep-2013 will be approximately GBP13 million favourable to the six months to 30-Sep-2012 and that the impact of exchange rate movements (including those related to fuel) will be around GBP5 million adverse compared to the six months to 30-Sep-2012. easyJet CEO Carolyn McCAll said: “easyJet has delivered a strong performance in the last twelve months due to management action to generate value to our customers and maintain a tight control of costs combined with an unusually benign capacity environment". [more - original PR

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