LONDON (AFX) - Dart Group PLC, the aviation services and distribution grou
p, raised pretax profit in the year to end-March to 15.0 mln stg from 8.4 mln the prior year and said current trading is in line with budget and with expectations.
The group's profit before tax, goodwill amortisation and exceptional items for the year amounted to 14.7 mln stg, up from 13.9 mln.
Turnover was 319.6 mln stg compared with 268.0 mln stg.
The board is recommending a final dividend of 5.18 pence, up from 4.70 pence, taking the total dividend for the year to 7.43 pence compared with 6.74 pence.
Dart also announced today that, in the light of the significant increase in the market price of the company's ordinary shares over recent years, it is proposing to split the ordinary shares into four. It is, therefore, proposed that, with effect from the close of business on Aug 3, each issued and unissued ordinary share of 5 pence in the capital of the company be sub-divided into four new ordinary shares of 1.25 pence each.
Chairman Philip Meeson said he is more confident than ever for the continued growth of the group.
'Of course, each of the separate businesses is in very competitive sectors. However, I believe we have the expertise, management, staff and assets to be increasingly successful in each,' he said.
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