17th Nov 2016 08:04
LONDON (Alliance News) - Dart Group PLC on Thursday reported growth in profit in the first half of its financial year and said it is optimistic full-year market expectations will be "slightly exceeded".
The leisure travel, distribution and logistics group said pretax profit in the first half ended September 30 rose to GBP163.7 million from GBP146.8 million the year before, as revenue increased to GBP1.24 billion from GBP1.02 billion.
Dart Group said its results were boosted by a strong summer season, underpinned by growth in its Leisure Travel business, where revenue grew by 22% to GBP1.16 billion.
Revenue at Fowler Welch, the group's distribution and logistics business, rose by 11% to GBP80 million, which Dart Group said was driven by its acquisition of Dairy Crest Group PLC's Nuneaton-based UK distribution hub in June.
Dart Group will pay an interim dividend of 1.375 pence, up from 0.900p the year before.
"Whilst we recognise the likely upward pressures on market pricing following the weakening of sterling post Brexit; for the long term, we have confidence in the resilience of our Leisure Travel business and are encouraged by the increasing proportion of customers taking our great value, real package holidays," Dart Group said in a statement.
"With winter 2016/17 Leisure Travel bookings continuing to perform in line with expectations, the board is currently optimistic that market expectations for the full year will be slightly exceeded," the company added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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