DAVY VIEW

Jet2 has reported a record H1 FY25 headline profit before FX revaluation and taxation of £772.4m, 15% ahead of the Davy estimate of £671.1m. This is an increase of 16% on the prior year (£664.6m) and ahead of market expectations. Jet2’s reported ‘own cash’ stands at £2318.3m, up 9% (2023: £2121m). It achieved an EPS of 279.3p (+21% year-on-year (yoy)) and announced an interim dividend of 4.4p, up from 4.0p per share announced at last year’s interims. The company expects to deliver FY25 headline profit before FX revaluation and taxation ahead of market expectations of £541m (Davy: £555m).