Briefs from the city: Jet2 and Vp

Leeds-based leisure travel group Jet2 expects to report a loss before currency revaluation and tax of between £378m and £383m for the financial year to March 31, 2022.

The company says passenger numbers increased significantly in October and November 2021, following the abandonment of the UK government’s Covid traffic light system in early October 2021.

However, the improvement in the situation was hit in December 2021 and January 2022 by the new Omicron Covid variant and the reimposition of restrictions on international travel, both of which damaged customer confidence.

Jet2 notes that the easing of UK travel restrictions at the start of 2022 has since led to a significant increase in its bookings with the number “moving closer to seasonal norms” as confidence in international travel rallies.

He adds that for the year ending March 31, 2023, on seat capacity for summer 2022 is approximately 14% higher than summer 2019 and bookings are encouraging.

The group’s business update says: “We have been working hard to plan for recovery for the summer of 2022, investing well ahead of the season to ensure we have adequate resources to operate with our normal levels of customer service.

“We also look after ourselves at many of our key bases and therefore do not rely on third parties for these aspects of our operations.

“With our strong ‘Own Cash’ balance at 31 March 2022 of £1.08 billion, we are well placed to respond now that the leisure travel market has fully reopened.”

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Equipment rental specialist Vp is optimistic about its outlook, with its core infrastructure, construction and homebuilding markets generating growing demand.

Publishing a business update today for the period since the publication of its interim results on November 30, 2021, the Harrogate-based company adds that it expects to publish its results for the full year ahead of Board expectations. ‘administration.

Neil Stothard, Managing Director, said: “Since our interim results in November, the Group has seen increased demand from our core markets as Covid restrictions ease.

“In addition, we have made excellent progress both with our technology offering and with the introduction of more environmentally friendly equipment solutions for our customers.

“We look to the future with optimism, confident that we will continue to deliver excellent value growth to our shareholders.”

Investment in technology was a key feature of the period for Vp. The company recently launched the latest version of its online trading platform for Brandon Hire Station, as well as a progressive web application solution to facilitate mobile rental solutions for customers.

Trading in its UK division was “positive”, with growing demand for HS2, housing construction, transmission projects and RMI construction work.

Vp’s business update states, “We also saw an encouraging increase in new civil engineering projects during the latter part of our fiscal year.

“Supply chain delays remain under control and, while inflationary pressures persist, we have continued to successfully balance the impact of these increased costs.

“On March 31, the Group acquired Watkin Jones plc’s in-house mill and tool fleet and we entered into a five-year supply agreement to meet their equipment rental requirements.”

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