Nov 30, 2021

Boosterish easyJet points to ‘softening’ from Omicron

EasyJet makes only a single reference to Omicron in its full-year results this morning, where it unveiled a £1bn statutory loss in a heavily pandemic-affected year. Pre-tax profits for the six months to September were £18.8m compared to £20m a year earlier, while revenues were £256m. Admin costs linked to Wise's stock market listing earlier this year, increasing headcount and IT and marketing investments ate into margins. Its financial year, which ended in September, was severely affected by the pandemic, with net property income down almost 13 per cent, and an after-tax loss of £195m. But it reported a recovery in valuations in the second half of the year "As pandemic uncertainties began to recede". The food-to-go supplier had been heavily hit by changes in working patterns, but reported a 5 per cent rise in revenues for the year and turned out a £28m profit on revenues of £1.3bn.Beyond the Square Mile. Moderna's chief executive has predicted existing vaccines will be much less effective at tackling Omicron than earlier strains of Covid-19.

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