11 Oct 2019 07:00
11 October 2019
Dart Group PLC ("the Company")
Trading Update
As reported at our Annual General Meeting on 5 September, in our Leisure Travel business we have continued to receive encouraging levels of later season bookings, with overall demand for both our Flight-Only offering and Package Holiday products continuing to strengthen.
We have also experienced increased levels of customer demand since Thomas Cook Group Plc entered into compulsory liquidation in late September 2019 and we continue to assess the impact this will have for our business in the coming months.
Given the strengthening booking trend, the Board now believes that current market expectations for Group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be exceeded. The Board will provide a further update on publication of its interim results on 21 November 2019.
Looking further ahead, our comments from the Annual General Meeting remain - given the cost pressures the Travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.
For further information please contact:
Dart Group plc Philip Meeson, Executive Chairman Gary Brown, Group Chief Financial Officer | 0113 239 7817 |
Cenkos Securities plc Nominated Adviser Katy Birkin / Azhic Basirov | 020 7397 8900 |
Canaccord Genuity Joint Broker Adam James | 020 7523 8000 |
Arden Partners Joint Broker Tom Price / Simon Johnson | 020 7614 5900 |
Buchanan Financial PR Richard Oldworth | 020 7466 5000 |
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.