Trading Update

RNS Number : 4076W

Dart Group PLC

17 April 2019

 

17 April 2019

Dart Group PLC ("the Group")

Trading Update

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

Year ended 31 March 2019 (FY19)

Due to the continued success of our growing Leisure Travel business, the Board expects Group profit before foreign exchange revaluation & taxation for the year ended 31 March 2019 to be slightly ahead of current market expectations.

Year ending 31 March 2020 (FY20)

We highlighted in our November 2018 Interim Results announcement that due to the overall uncertain UK economic outlook, particularly in relation to Brexit, we remained unclear how demand would develop in the medium term. We are now seeing that Summer 2019 forward bookings in our Leisure Travel business, though positive, reflect some consumer uncertainty and that pricing for both our Flight-Only and Package Holiday products is more competitive.

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

With a considerable way to go in the leisure travel booking cycle, the Board remains optimistic of meeting current market expectations of Group profit before foreign exchange revaluation & taxation for the year ending 31 March 2020. The Group will announce its Preliminary Results for the year ended 31 March 2019 on 11 July 2019 at which point it will provide a fuller outlook for the all-important Summer 2019 trading period.

For further information, please contact: Dart Group plc Philip Meeson, Executive Chairman Tel:              0113 239 7817 Gary Brown, Group Chief Financial Officer Cenkos Securities plc Nominated Adviser David Jones / Katy Birkin Tel:              020 7397 8900 Canaccord Genuity - Joint Broker Ben Griffiths Tel:              020 7523 8000 Arden Partners - Joint Broker Tom Price/Simon Johnson Tel:              020 7614 5900 Buchanan - Financial PR Richard Oldworth Tel:              020 7466 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.

 

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