LONDON (Alliance News) - Dart Group PLC on Friday said it is optimistic it will beat market expectations for its full-year operating profit, as profit rose in the first half, and it expects the post-Christmas booking season to boost its results.
Operating profit in the first half to the end of September will be around 10% up year-on-year, Dart said, though it does expect an increase in losses in the second half owing to the expansion of its seasonal leisure travel operations.
Despite that, the owner of airline Jet2.com and Jet2holidays said its winter 2014/15 Leisure Travel bookings are performing in line with expectations, and it is optimistic of exceeding market expectations for its profit in the full year on the back of the upcoming post-Christmas trading period.
The group said trading for its Leisure Travel business improved in the later summer months following challenging market conditions earlier in the season. Flight-only passengers grew 8% in the first half to to the end of September to 3.1 million, against GBP2.8 million a year earlier, while its Jet2holidays package holiday business increased customer numbers to 771,000, up 21%.
Overall, the Jet2.com leisure airline business flew 4.6 million passengers in the first half, up 12% year-on-year.
For Dart's Distribution & Logistics arm, Fowler Welch, margins remain tight. It said the unit is continuing to focus on growing its revenue pipeline and on developing new and existing business opportunities.
Dart will post its interim results for the first half on November 20.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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