Dart Group flying high with profit increase
Dart Group is predicting a 10 per cent operating profit rise in the first half of its financial year and, despite expecting second half losses to increase because of the seasonality of its leisure travel operations, full-year profit should also grow.
Trading in the six months to 30 September 2014 improved in the group's leisure travel business compared with "challenging market conditions experienced earlier in the season", with passenger numbers growing by eight per cent to 3.07 million.
Its package holiday product Jet2holidays took 771,000 customers on holiday, an increase of 21 per cent.
The group's leisure airline Jet2,com flew 4.6 million passengers in the six months to 30 September, an increase of 12 per cent over the same period last year, though below the increased seat capacity of 13 per cent.
Dart's distribution and logistics business Fowler Welch "continues to focus on growing its revenue pipeline and the successful development of existing and new business opportunities".
The board remains optimistic that current market expectations for full year operating profit will be exceeded, with the winter 14/15 Leisure Travel bookings continuing to perform in line with expectations.
The group intends to announce its interim results for the six months ended 30 September on 20 November 2014.