Dart Group PLC Trading Statement and Notice of Results (0237R)
October 22 2013 - 1:00AM
UK Regulatory
TIDMDTG
RNS Number : 0237R
Dart Group PLC
22 October 2013
22 October 2013
Dart Group PLC ("the Group")
Trading Statement and Notice of Results
Dart Group PLC, the Leisure Airline, Package Holidays, and
Distribution & Logistics Group, is pleased to give the
following update on trading for the first half of the financial
year ending 31 March 2014.
Summer 2013 trading in our leisure travel businesses has been
satisfactory despite the fine weather experienced in the North this
year. Our Leisure Airline, Jet2.com, flew 4.1m passengers in the
six months to 30 September 2013, an increase of 13% over the same
period last year, supported by the continued growth of Jet2holidays
and its sales of great value package holidays. The business also
achieved increases in ticket yields and load factors, though more
recently yields and therefore operating margins have come under
pressure.
Our Package Holidays business, Jet2holidays, had a successful
summer and continues to meet its passenger growth targets. During
the first six months of the year it took 634,866 passengers on
holiday, an increase of 103% over the same period last year (2012:
312,000). This growth continues to be fuelled by further
improvements to the Jet2holidays product range, underpinned by a
relentless focus on providing a great value offering to our
Northern based customers.
Our Distribution & Logistics business, Fowler Welch,
continued to make good operational progress in the first six months
but profitability was adversely affected due to the varied profile
of volumes handled during late July, August and September.
Nevertheless, the strategy of the business remains consistent;
continuing to focus on growing its revenue pipeline and delivering
operational efficiency improvements in a sector that continues to
experience tight margins.
As previously noted, our leisure travel operations are becoming
increasingly seasonal as we continue to grow the business. This
will result in the Group's profit before taxation for the first
half of the year being approximately 37% ahead of the same period
in the previous year, with increased losses expected in the second
half.
As a result, and with the important winter booking period still
to come, the Board remains cautiously optimistic in relation to
profit growth for the financial year ending 31 March 2014.
The Group intends to announce its interim results for the six
months to 30 September 2013 on 21 November 2013.
For further information contact:
Dart Group PLC Tel: 0113 238 7444
Philip Meeson, Group Chairman and Chief
Executive
Gary Brown, Group Chief Financial Officer
Smith & Williamson Corporate Finance Tel: 020 7131 4000
Limited
Nominated Adviser
Andy Pedrette / Siobhan Sergeant
Canaccord Genuity - Joint Broker Tel: 020 7523 8000
Peter Stewart / Mark Whitmore
Arden Partners - Joint Broker Tel: 020 7614 5900
Christopher Hardie
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
This information is provided by RNS
The company news service from the London Stock Exchange
END
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