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Profits at Jet2.com parent company fall, but full year results to be in line with expectations

25-Nov-2009

Dart Group, parent of Jet2.com and Fowler Welch Coolchain, reported a 23% reduction in pre-tax profit and a 29.4% reduction in operating profits in the six months ended Sep-2009, to GBP28.1 million and GBP27.7 million, respectively, while revenues were maintained at GBP727.7 million. [1320 words]

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Subheadings:

  • Jet2.com contributing 79% of total group revenues
  • Load factors increase, but partly at the expense of yields
  • Successful ancillary revenue development
  • Charters and freight impacted, after previous strength, while Jet2holiday.com grows strongly
  • Strengthening balance sheet
  • Suffering from Sterling weakness
  • Reducing capacity slightly over Winter, with a planned 2% increase over Summer 2010
  • OUTLOOK: Expects full year trading to be in line with market expectation, but challenges to pesist

Graphs and data:

  • Dart Group Structure
  • Jet2.com revenue and EBITDA: 1H07/08 to 1H09/10 (financial year ended 31-Mar)
  • Dart Group Financial results: Six months ended 30-Sep-2009
  • Dart Group share price growth: Jan-2009 to Nov-2009
  • Jet2.com underlying EBITDA margin and passenger load factor: 1H07/08 to 1H09/10 (financial year ended 31-Mar)
  • Significant shareholders in Dart Group: As of Jul-2009 (as per latest update on Dart Group’s webiste)
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