Dart Group revenue up 25% for 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.