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FlyBe

July 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FLYB
  • Price:
  • 116.5p
Flybe returned to the black in the year to end March. Sales were up 1% to £620m. Adjusted pretax profit before restructuring and surplus capacity costs was £1.7n versus a substantial £23.6m loss. Net cash at the year end was £117m. This significant improvement in Flybe's trading performance came mainly from the Turnaround Plans. The year saw 1,000 jobs cut  some 30% of the workforce with restructuring costs of £10.7m and this year will see more of the same as it continues to pare back its unprofitable routes and reduce frequencies on others. Combined, these initiatives delivered cost savings of £47m in 2013/14 and this is expected to increase to £71m in 2014/15. A keynote is that ten of its E195 118 seat regional jets from the fle ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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