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EasyJet FY Profit Rises On Strong Revenues; Backs FY19 Capacity Growth View

Low-cost airline easyJet Plc (ESYJY.PK,EZJ.L) reported Tuesday that its fiscal 2018 profit before tax increased to 445 million pounds from 385 million pounds last year.

Basic earnings per share were 90.9 pence, higher than 77.4 pence a year ago.

Headline profit before tax for the year was 578 million pounds, compared to 408 million pounds last year. Total headline profit before tax per seat increased by 28.7% to 6.07 pounds per seat

Total revenue climbed 16 8 percent to 5.90 billion pounds from 5.05 billion pounds last year. Revenue per seat grew 6.4% to 61.94 pounds.

The number of passengers flown was at 88.5 million, up 10.2%. Load factor was 92.9%, higher than 92.6%.

Further, easyJet announced a 43% increase in proposed dividend to 58.6 pence reflecting a successful year of delivery

Forward bookings are solid, with 50% of seats sold in the first half, in line with the prior year.

Looking ahead, easyJet said it is confident that its strategy and positioning will deliver substantial value for its shareholders, with a focus on return on capital, positive free cash flow and profit per seat.

easyJet's capacity growth in the first half is forecast at circa 15% and at circa 10% for the full year

easyJet was expecting capacity to grow by circa 10% to around 105 million seats for the year.

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