Easyjet (LON:EZJ) shares sunk nearly 5 percent on Thursday morning, after warning that negative currency movements were likely to have a negative impact on profits going forward.
Figures were encouraging for the third quarter, with passengers carried increased by 10.8 percent to 22.3 million, and load factor increasing by 1.1 percentage points to 93.1 percent.
Total revenue per seat also increased by 2.2 percent at constant currency, ahead of guidance. Total revenue in the quarter increased by 16.0 percent to £1,387 million.
Carolyn McCall, easyJet Chief Executive said:
“easyJet has delivered a strong performance in the quarter right across the business.
“Our purposeful and disciplined growth continues to strengthen our market positions and we are seeing an underlying improving revenue trend.
“Although we expect capacity to continue to put pressure on yields, our progress this year has enabled us to upgrade this year’s PBT forecast and demonstrates that after a difficult 18 months of external challenges easyJet once again has positive momentum.”
However the company added that it expected continued pressure on yields, and that exchange rate movements are likely to have around a £20 million adverse impact to headline profit before tax compared to the six months to 30 September 2016.
Shares in easyJet are currently trading down 5.15 percent at 1,340.00 (1151GMT).
