Premarket London: Wizz Air Raises Profit Guidance
By Pauline Thomas
Here is a summary from the most important regulatory news releases from the London Stock Exchange ahead of the U.K. market open on Wednesday 29 January. Please refresh for updates for U.K. market news from the LSE’s RNS on individual U.K. shares from FTSE 100, FTSE 250 and FTSE All-Share.
- Wizz Air (LON:WIZZ) raised its profit guidance for 2020 as a result of strong passenger growth in the three months to December.
- The discount airline raised its guidance to between €350 and €355 million, up from €335 to €350 million.
- The Central and Eastern European carrier said passenger numbers in the third quarter were up 23%, while total revenue was up 25% to €637 million.
- "As previously announced at our H1 results, Wizz Air has reinvested some of its outperformance of the first half in the third quarter, and will grow even faster in the fourth quarter, delivering an industry leading growth rate of 24%." said CEO József Váradi.
- Asset manager Brewin Dolphin said Chief Executive David Nichol is to retire in June 2020. He'll be replaced by Robin Beer, who runs the company's intermediaries and digital business.
- The company said income grew 15% in the three months to December to 89.6 million pounds, including 4 million pounds from recent acquisitions.