Low cost airline easyJet published half year results this morning which painted something of a mixed picture for the company. Whilst the year on year performance was in line with consensus and showed a slight improvement once the timing of Easter had been accounted for, there’s still concern that whilst forward bookings for the summer look OK, a key booking window still needs to be navigated. Holiday sales are powering higher and longer term targets are on track, but it feels as if there’s some concern that macroeconomic factors could still weigh. In early trade the easyJet share price was down more than 4% but losses were quick to start easing.
The defence technology company Qinetiq published preliminary results this morning, whilst also announcing the extension of a long term partnership agreement with the UK Ministry of Defence worth £1.5bn. The final quarter presented tough trading conditions but the company ended the year with a record order book and continues to report seeing strong demand. Revenue growth of 3% is forecast for FY26, whilst EPS growth of 15-20% is also forecast. The Qinetiq share price was trading around 4% higher shortly after the open.
Shares in the chemicals and technology company surged in early trade on Thursday after management announced they had agreed to sell its Catalyst Technologies business to Honeywell for £1.8bn, with some £1.4bn set to be returned to shareholders in the first half of calendar 2026. The move allows Johnson Matthey to focus on a more streamlined business. Full year results were also published with revenues down 9% whilst pre-tax profits soared but arguably it’s the disposal news that has been dominating. The Johnson Matthey share price was 30% higher at 8.30am.
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Results for the full year to 31 March 2025 - - BT Group (BT.A)
