Dart Group PLC reports double-digit profit growth in FY2014

Dart Group PLC revenue up 30% - financial highlights for 12 months ended 31-Mar-2014:

• Revenue: GBP1120 million, +28.9% year-on-year;
• • Leisure airline: GBP643.1 million, +16%;
• Operating costs: GBP1071 million, +28.8%;
• Operating profit: GBP49.2 million, +29.8%;
• • Leisure airline: GBP31.2 million, +17%;
• Net profit: GBP35.9 million, +15.1%;
• Passenger numbers: 5.6 million, +16%;
• Load factor: 91.0%, +1 ppt;
• Net ticket yield: GBP78.39, +5%;
• Retail revenue per passenger: GBP32.14, +4%;
• Total assets: GBP852.9 million;
• Cash and cash equivalents: GBP211.2 million;
• Total liabilities: GBP671.3 million. [more - original PR]

Dart Group: "In relation to the current financial year, we are finding demand for leisure travel, this summer, to the markets we serve, less buoyant than we would have hoped for and market pricing weak. This may be due to the weather, the World Cup, or because the financial recovery hasn't yet taken hold in our home territory, the North of the UK. Unfortunately, therefore, in view of the current visibility we have of our remaining summer 2014 forward bookings, we now expect the current year operating profit outturn to be lower than previous market expectations," Philip Meeson, Chairman. Source: Company statement, 26-Jun-2014.