The FTSE 100 opens down by over 40 points to 7,420.05 as aviation giants continue to struggle. Easyjet (EZJ) is down 2.74% to £12.76 while International Consolidated Airlines (IAG) also sheds 2.3% to 576.5p
Another key airline Ryanair (RYA) shares are down 5% to 17.19p despite reporting a first quarter to June 30 profit of €397m. The company says that the results are distorted as Easter fell in the first quarter making a year-on-year comparison difficult. The number of passengers using the airline grew by 12% to 35m.
Cillit Bang maker Reckitt Benckiser (RB.) shares tick down by 1.65% to £77.51 as it releases its first half results to 30 June. The firm’s profits are down by 20% on a constant currency exchange basis including discontinued operations and like-for-like revenue drops by 1% compared to the same time last year.
Financial services company WH Ireland (WHI) shares track up 2.4% to 148.5p as the company reports a revenue hike of 24% to £14.9m in its half year results to 31 May. The company’s operating profit before exceptional items is £0.4m and chairman Tim Steel says that the sale of its Manchester office has increased its cash balance ‘substantially’.
Staffer SThree (STHR) is up 2.1% to 290.88p on releasing an interim results for its half year ending 31 May. Revenue is up 17% to £521m and its operating profit hit £19.3m, a 26% improvement on last year.
Food supplier Cranswick (CWK) shares are up 2% to £28.97 as it reports a 27% growth in revenue for its first quarter to 30 June, helped by growth in sales volumes in its domestic markets. The company plans to spend 50% more this year as it boosts investments in its meat processing plants to counter a surge in prices.
Media company Ascential (ASCL) ticks up 3.3% to 346.3p as it reports revenue growth of 26% in its half year to 30 June results. The company’s operating profit is also up 28% to £48.1m and has announced an interim dividend of 1.8p a share.
On the AIM market Mortice (MORT:AIM) shares get a 2.4% lift to 85p on releasing it final results to 30 March 2017. Revenues are up 36.7% to $181m and pre-tax profit is up from $1.6m in 2016 to $5.4m.
