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Dart Group revenue up 25% for six months ended 30-Sep-2010

19-Nov-2010 1:31 PM

Dart Group, parent of Jet2.com, revenue up 25% - financial highlights for the six months ended 30-Sep-2010:

  • Revenue: GBP340.4 million, +25% year-on-year;
    • Aviation: GBP270 million, +25%;
  • Operating profit: GBP38.9 million, +40%;
  • Profit before tax: GBP38.7 million, +38%;
  • Net profit: GBP28.0 million, +39%;
  • Passenger numbers: 2.4 million, +9.1%;
  • Load factor: 87.5%, +6.2 ppts;
  • Net operating cash flow: BP31.0 million, +154%;
  • Total assets: GBP333.1 million, +25.9%;
  • Total liabilities: GBP204.7 million, +35.4%. [more]

Dart Group estimates (18-Nov-2010) the overall profit impact of the volcanic disruptions in Apr-2010 to be GBP3 million as a result of the cancellation of more than 400 flights.

Dart Group: “Performance in the group’s stronger six-month trading period has outperformed our expectations, despite the Icelandic volcano. However, the Group expects to report increased losses in the second half of the financial year as a result of our ongoing investment for continued growth. This reflects expansion of the Aviation business’s cost base, which is being carried through the traditionally loss making winter months. Nevertheless, I am pleased to report that Jet2.com’s overall forward booking levels are encouraging. As a result of the Group’s strong trading performance in the first half of the year, we expect full year results to be ahead of current market expectations,” Philip Meeson, Chairman. Source: Dart Group, 18-Nov-2010.