8th Oct 2015 08:29
LONDON (Alliance News) - Dart Group PLC on Thursday said its performance for its full financial year will materially exceed current market expectations following a strong summer period.
The leisure, travel, distribution and logistics group said that summer trading in the leisure and travel business was strong with demand for its package holidays continuing to grow. Jet2holidays took 936,000 customers on holiday, a 21% rise on the 771,000 it took in the same period last year.
Its leisure airline, Jet2.com, however, saw a 1.9% decrease in customers in the six months to September 30 to 4.5 million from 4.6 million, against a backdrop of seat capacity reductions. However, Jet2 did achieve a record average load factor of 94.1% from 91.8% as a result of seat capacity management and buoyant customer demand.
Meanwhile, Dart's distribution and logistics business, Fowler Welch, continues to trade ahead of last year, in line with expectations, as it focuses on growing its revenue pipeline and develops existing and new business opportunities,the company said.
Dart said that its operating profit for the six months ended September 30 will be at least 60% ahead of the year before, although increased losses are expected in the second half as the leisure and travel business expands its operations.
"With winter 15/16 Leisure Travel bookings for both package holiday and flight-only products continuing to perform in line with expectations and notwithstanding the important post-Christmas booking period that is still to come, it is now apparent that group performance for the full year ending March 31, 2016 will materially exceed current market expectations," Dart said in a statement.
Shares in Dart were trading up 2.2% at 475.00 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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