TIDMDTG

RNS Number : 1852F

Dart Group PLC

19 February 2018

19 February 2018

Dart Group PLC ("the Group")

Trading Update 19 February 2018

Dart Group PLC, the Leisure Travel and Distribution & Logistics group, is pleased to give the following update on trading.

Current Financial Year (FY18)

Due to the continued success of our growing Leisure Travel business and a more normalised pricing environment after the heavy discounting in the market over the past year, the Board now expects Group underlying profit before taxation([1]) for the year ending 31 March 2018 to be materially ahead of current market expectations.

The Group will publish its Preliminary Results for the year ending 31 March 2018 on 12 July 2018.

Next Financial Year (FY19)

The Group continues to develop and build its businesses.

Looking ahead to the year ending 31 March 2019, forward bookings in our Leisure Travel business for summer 2018 are presently satisfactory. We also remain encouraged by the performance of our two new operating bases at London Stansted and Birmingham airports.

Our Distribution & Logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.

It is still early in the leisure travel booking cycle and we remain cautious on pricing. However, given the satisfactory forward bookings and the execution of our growth strategy, the Board currently expects the Group's trading performance for the year ending 31 March 2019 to be broadly in line with the current financial year.

([1]) Underlying profit before taxation is defined as profit before taxation stated before foreign exchange revaluation gains or losses.

For further information, contact:

 
 Dart Group PLC                       Tel: 0113 239 
  Philip Meeson, Executive Chairman    7817 
 Gary Brown, Group Chief Financial 
  Officer 
 Smith & Williamson Corporate         Tel: 020 7131 
  Finance Limited                      4000 
  Nominated Adviser 
  David Jones/Katy Birkin 
 Canaccord Genuity - Joint            Tel: 020 7523 
  Broker                               8000 
  Antony Isaacs 
  Ben Griffiths 
 
 Arden Partners - Joint Broker        Tel: 020 7614 
  Christopher Hardie                   5900 
 Buchanan - Financial PR              Tel: 020 7466 
  Richard Oldworth                     5000

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 19, 2018 02:00 ET (07:00 GMT)

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