Here’s the key business news from London-listed companies this morning.
Ryanair Holdings Plc: The low-cost carrier reported a first-quarter profit after dodging the worst of Europe’s travel disruption, though the airline is cautious about its outlook beyond the typically busy summer.
The Dublin-based company said while there are clear signs of pent-up demand, bookings continue to be made closer to the date of travel than pre-pandemic and there is almost “zero visibility” into the second half of the financial year Vodafone Group Plc: The telecommunications provider’s operations in Germany — which makes up a large portion of its revenue —were impacted by the country’s new customer re-contracting regulations.
Very strong organic service revenue growth in the UK driven by annual price increases offset the poor performance in Germany leading to a first-quarter result of 2.5% for the group
Card Factory Plc: The greeting card maker’s CFO Kris Lee after navigating the company through what Lee called an “exceptionally challenging backdrop”.
Also losing its CFO is online wine retailer Naked Wines Plc who is leaving the company by “mutual agreement”. Outside The City Liz Truss, who is leading the race to be prime minister, said she would introduce low-tax, light-regulation investment zones across the UK to spur economic growth if she came to power. Here’s the first story in a six-part series on the political and economic landscape facing Britain's new prime minister.
In Case You Missed It Last week, unbeknown to many outside the power industry, parts of London came remarkably close to a blackout — even as it was recovering from the hottest day in British history, writes Bloomberg Opinion’s Javier Blas.
And British satellite firm OneWeb is nearing a deal to combine with France’s Eutelsat Communications SA in a transaction that would create a pan-European operator that could better compete with Elon Musk’s Starlink project, people familiar with the matter told Bloomberg.
Looking Ahead Consumer giant Unilever Plc will report tomorrow, as the company battles to raise prices in line with rising input costs, without hurting sales volume. And, amid Europe-wide travel chaos, EasyJet Plc will also provide an update with questions lingering over how cancellations might impact the company’s earnings.
