British Airways owner International Airlines Group has said the financial impact from recent pilot strikes cost the business by €137 million (£121 million), meaning profits will be below expectations.

The company added that threatened strikes by Heathrow Airport workers hit IAG by a further €33 million (£29.2 million). Passenger unit revenue - a key measure for the industry - will be down on last year, versus previous expectations it would be flat.

The announcement by IAG means operating profit before one-off costs will be about €215 million (£190.5 million) lower than a year ago at around €3.49 billion (£2.82 billion).

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Capacity growth for the year is now expected to be about four per cent, compared to five per cent previously, with finance chief Steve Gunning warning: "Any further industrial action will additionally impact IAG's full year 2019 operating profit."

The chief executive of British Airways' owner, International Airlines Group, has revealed he is looking at buying slots at Gatwick airport left over following the collapse of Thomas Cook.

Willie Walsh told analysts: "If there's slots available we'll be looking at slots, but through the normal way, through the slot pool.

"But if there is an opportunity to acquire some slots through the administration ... We clearly see Gatwick as an opportunity for us and that is something we will be looking at."

Sofa chain DFS Furniture has reported a 31% hike in underlying annual profits but cautioned over "subdued" recent trading amid Brexit uncertainty and a slowdown in the housing market.

The group posted pre-tax profits of £50.2 million on a pro forma 52-week basis to June 30 against £38.3 million a year earlier as its DFS chain saw a welcome return to sales growth.

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Like-for-like group sales rose 5.7% and it said all its brands - including recently-bought Sofology - delivered growth.

However, it said sales growth slowed over the second half as order intake eased back - a trend which has continued into the new financial year.

Imperial Brands has warned over annual sales after a sharp slowdown in sales of vaping products in the United States following a crackdown on the flavoured e-cigarettes and tighter regulation.

Imperial said it had seen a "marked" slowdown in the vaping market in recent weeks, with rising numbers of wholesalers and retailers not ordering or not allowing the promotion of vaping products.

The group said it expects overall revenue growth of its cigarette alternatives - or so-called next generation products - at a lower-than-expected 50% this year.

Shares in FTSE 100-listed Imperial slumped 10% after its revenue alert.