Dart Group PLC provided (22-Oct-2013) the following trading update for 1HFY2014 ending 31-Mar-2014:
- Airline: Jet2.com transported 4.2 million passengers in the six months to 30-Sep-2013, an increase of 13% year-on-year, supported by the continued growth of Jet2holidays and its package holidays. The business also achieved increases in ticket yields and load factors, though more recently yields and therefore operating margins have come under pressure;
- Package holidays: Jet2holidays had a successful summer and continues to meet its passenger growth targets, handling 634,866 passengers for an increase of 103% year-on-year. This growth continues to be fuelled by further improvements to the Jet2holidays product range;
- Distribution and logistics: Fowler Welch continued to make good operational progress in the six months to Sep-2013 but profitability was adversely affected due to the varied profile of volumes handled during late July, August and September. However, the strategy of the business remains consistent; continuing to focus on growing its revenue pipeline and delivering operational efficiency improvements in a sector that continues to experience tight margins.
Looking ahead, the company remains cautiously optimistic in relation to profit growth for FY2014.[more - original PR]