Dart Group operating profit increases in 1HFY2012

Dart Group, parent of Jet2.com, reported the following financial highlights for six months ended 30-Sep-2011:

• Revenue: GBP445.7 million, +30.9% year-on-year;
  • Jet2.com: GBP316 million, +27%;
• Operating profit: GBP42.3 million, +8.7%;
• Net profit: GBP31.1 million, +11.1%;
• Passenger numbers: 3.2 million, +32%;
• Load factor: 89.8%, +2.3 ppts;
• Retail revenue per passenger: GBP27.87, +7%;
• Total assets: GBP423.1 million, -10.0% when compared to period ended 31-Mar-2011;
• Cash and cash equivalents: USD103.4 million, +5.2% when compared to period ended 31-Mar-2011;
• Total liabilities: GBP263.8 million, -18.1% when compared to period ended 31-Mar-2011. [more - original PR]

Dart Group: "Jet2.com and Jet2holidays forward booking levels are encouraging for next summer and there is a significant new business pipeline at Fowler Welch. However, in this challenging trading environment we expect limited opportunities to deliver profit growth in the short term. Performance in the first six-month trading period has been challenging in what has been a difficult retail trading environment. The Board still hopes that full year results will be in line with market expectations," Phillip Meeson, chairman. Source: Dart Group, 17-Nov-2011.