Trading Statement and Notice of Results

RNS Number : 1756V

Dart Group PLC

24 October 2014

 



Dart Group PLC ("the Group")

Trading Statement and Notice of Results

Dart Group PLC, the Leisure Travel and Distribution & Logistics group, is pleased to give the following update on trading for the first half of the financial year ending 31 March 2015.

Leisure Travel 

Summer 2014 trading in our Leisure Travel business improved in the later summer months as compared to the challenging market conditions experienced earlier in the season. Flight only passengers grew by 8% to 3.07m (2013: 2.84m), whilst our package holiday product, Jet2holidays, took 771k (2013: 635k) customers on holiday, an increase of 21%.

Consequently, our leisure airline, Jet2.com, flew 4.6m passengers in the six months to 30 September 2014, an increase of 12% over the same period last year, though below the increased seat capacity of 13%. The period saw a reduction in average ticket yield of 1.6%, being particularly pronounced in our Canary Islands and Eastern Mediterranean destinations.

Distribution & Logistics

Our Distribution & Logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and the successful development of existing and new business opportunities. Margins continue to be very tight in this business.

The Group's reported operating profit for the six months ended 30 September 2014 will be approximately 10% ahead of the same period in the previous year. However, increased losses are expected in the second half, which are a function of the continued expansion of our seasonal leisure travel operations.

With winter 14/15 Leisure Travel bookings continuing to perform in line with expectations, notwithstanding the important post-Christmas booking period that is still to come, the Board is optimistic that current market expectations for full year operating profit will be exceeded.

The Group intends to announce its interim results for the six months ended 30 September 2014 on 20 November 2014.

For further information contact:

Dart Group PLC Philip Meeson, Group Chairman and Chief Executive	Tel:                      0113 238 7444
Gary Brown, Group Chief Financial Officer
Smith & Williamson Corporate Finance Limited Nominated Adviser Andy Pedrette / David Jones	Tel:                      020 7131 4000
Canaccord Genuity - Joint Broker Peter Stewart / Mark Whitmore	Tel:                      020 7523 8000
Arden Partners - Joint Broker Christopher Hardie	Tel:                      020 7614 5900
Buchanan - Financial PR Richard Oldworth	Tel:                      020 7466 5000

 

END

 

 

MSCFESFWDFLSESS