EasyJet Says Summer Sales to Spur Gain in Full-Year Earnings
While European stocks almost entered a correction earlier this month amid anxiety over Greece, they rebounded as those worries faded and investors bullish on the region’s economic and earnings outlook piled back in.
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EasyJet Plc said sales in the key summer period are recovering from a dip in the spring, with pretax profit for the year ending Sept. 30 set to increase by as much as 14 percent.
Shares of EasyJet rose almost 5 percent after the Luton, England-based company said pretax profit will be between 620 million pounds ($968 million) and 660 million pounds, up from 581 million pounds a year earlier. Analysts had been expecting earnings of 636 million pounds, the average of 21 estimates.