12 Sep 2008 10:59
Trading Statement
Dart Group PLC, the aviation and distribution group, reports on the first five months of trading of its principal operating subsidiaries Jet2.com, the northern based airline, and Fowler Welch-Coolchain, one of the UK's largest chilled distribution companies.
The Group's underlying profit before taxation (before specific IAS 39 fair value movements) for the first half of the year is expected to be in excess of £30 million, with full year results in advance of current market expectations.
The Group's aviation business is set for a record summer. By focusing on its core European leisure routes, our scheduled airline, Jet2.com, is delivering improved yields coupled with load factors on these routes in excess of 90% in the peak months. Trading performance has been supported by increased charter volumes, strong cost control, and a conservative approach to fuel hedging. Our ATOL-protected holidays company, Jet2holidays.com, continues to grow strongly by meeting our customers' demand for a package holiday from their local airport.
Our distribution business, Fowler Welch-Coolchain, which operates over 350 vehicles providing a high quality distribution service of staple consumer goods, including chilled fresh and prepared foods, for a range of UK leading supermarkets, retailers and their suppliers, continues to perform well and in line with the Company's expectations. This business remains unaffected by fuel price movements, which are passed on to our customers.
For further information please contact:
Philip Meeson Telephone: 0113 2397692
Chairman and Chief Executive Mobile: 07785 258666
Andrew Merrick Telephone: 0113 2397692
Finance Director Mobile: 07788 565358
Andy Pedrette
Smith & Williamson Corporate Finance Ltd Telephone: 020 7131 4000
12 September 2008