21st Nov 2013 10:09
LONDON (Alliance News) - Dart Group said Thursday that group revenue rose 35% during the half-year, driven by continued strong growth in its Leisure Airline and Package Holiday divisions.
In its interim results for the half-year ended 30 September 2013, Dart reports GBP787.1 million in group revenue, up on the GBP584.5 million reported last year. Profit before tax was up 37% to GBP78.1 million from GBP57.0 million in 2012.
The company said revenue in its Leisure Airline business was up 19% to GBP463.2 million for the period on GBP388.0 million during the comparable period last year, and reflects a 13.1% increase in passengers flown, increases in ticket yields and non-ticket yield retail revenues.
The group records a 110% rise in the Package Holiday division with revenues reaching GBP380.1 million, from the GBP180.6 million last year. Dart adds that customer numbers are up 103% to 634,866.
Dart's Distribution and Logistics arm contributed GBP78.2 million to overall revenues, slightly down to the GBP80.3 million reported last year.
The firm increased its basic earnings per share to 41.5 pence per share, up on the 30.11 pence recorded last year. Due to Dart's outlook for the full-year, the company will pay an increased dividend of 0.60 pence per share, up on last year's 0.54 pence. The dividend will be paid on 3 February 2014 to shareholders on the register at 3 January 2014.
In its half-yearly report, Dart said its Leisure Travel business is becoming increasingly seasonal and the business grows and anticipates that it will take a hit with winter losses increasing materially. "Accordingly, with the important winter booking period still to come, the Board remains cautiously optimistic in relation to full year profit growth."
Dart runs Jet2.com, a Northern leisure airline, Jet2holidays, an ATOL protected package holidays operator and Fowler Welch, a UK logistics provider.
Philip Meeson, Dart Chairman said, "Our leisure travel operations continue to concentrate on the Mediterranean, the Canary Islands and European Leisure Cities, which means that the business is becoming increasingly seasonal as it continues to grow and, as a result, increased losses are to be expected in the second half of the year."
Shares in the AIM-listed travel and logistics operator were trading up 5.52% at 224.75 pence per share Thursday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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