Annual profits at easyJet are expected to have soared by up to half when the budget carrier issues annual results tomorrow (Tuesday).

The Luton-based carrier last month said earnings for the 12 months to the end of September were expected to reach between £470 million and £480 million, against a figure of £317 million last year.

It also said revenue per seat looked set to have grown by around 6%.

EasyJet saw a strong summer for holiday bookings despite the UK heatwave.

Numis analyst Wyn Ellis said easyJet has had a “very strong year” and that there was more to come from the low-cost airline.

He told the Daily Telegraph: “We believe that easyJet’s operational model leaves it well placed for good progress in 2014 and beyond.

“There remains an attractive structural growth opportunity in Europe, in our view, and easyJet’s strong slot portfolio at Europe’s major airports leaves it well placed to benefit from economic recovery.”