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EasyJet annual profit falls 28%, hit by slumping pound

EasyJet expects full-year profits to suffer a bigger-than-expected hit with the pound down sharply since the Brexit vote

British low cost airline EasyJet on Tuesday said its annual profit before tax slumped by almost one third owing to a Brexit-driven tumble in the pound, terror attacks and strikes.

Pre-tax profit fell 28 percent to £495 million ($618 million, 574 million euros) in the year to September 30 compared with 2014-15 "mainly due to the decline in revenue and foreign exchange impact", EasyJet said in an earnings statement, adding that currency fluctuations would cost it around £90 million during its current financial year.