LONDON (Thomson Financial) - Dart Group PLC posted a higher full-year pretax profit helped by
a one-off gain of 2.2 mln stg related to the sale of its non-core Channel Islands distribution business. It said that it expects to grow its businesses organically and through acquisitions in the year ahead.
The aviation and distribution company posted pretax profit of 18.1 mln stg for the year to end-March, against a restated 14.8 mln stg. Total revenues came in higher at 352.0 mln stg against 310.6 mln stg.
It said that while its low-cost airline unit Jet2.com bought five Boeing 757-200 aircraft to add new routes, it takes time and money to develop these to profitability, and hence it is unlikely that group profits will increase this year, although growth should resume thereafter.
The board is recommending a final dividend of 1.430 pence a share against 1.295 pence last year, taking the total for the year to 2.08 pence, an increase of 12 pct over 1.86 pence previously.
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