19 Feb 2018 07:00
19 February 2018
Dart Group PLC ("the Group")
Trading Update 19 February 2018
Dart Group PLC, the Leisure Travel and Distribution & Logistics group, is pleased to give the following update on trading.
Current Financial Year (FY18)
Due to the continued success of our growing Leisure Travel business and a more normalised pricing environment after the heavy discounting in the market over the past year, the Board now expects Group underlying profit before taxation[1] for the year ending 31 March 2018 to be materially ahead of current market expectations.
The Group will publish its Preliminary Results for the year ending 31 March 2018 on 12 July 2018.
Next Financial Year (FY19)
The Group continues to develop and build its businesses.
Looking ahead to the year ending 31 March 2019, forward bookings in our Leisure Travel business for summer 2018 are presently satisfactory. We also remain encouraged by the performance of our two new operating bases at London Stansted and Birmingham airports.
Our Distribution & Logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.
It is still early in the leisure travel booking cycle and we remain cautious on pricing. However, given the satisfactory forward bookings and the execution of our growth strategy, the Board currently expects the Group's trading performance for the year ending 31 March 2019 to be broadly in line with the current financial year.
[1] Underlying profit before taxation is defined as profit before taxation stated before foreign exchange revaluation gains or losses.
For further information, contact:
Dart Group PLC Philip Meeson, Executive Chairman | Tel: 0113 239 7817 |
Gary Brown, Group Chief Financial Officer | |
Smith & Williamson Corporate Finance Limited Nominated Adviser David Jones/Katy Birkin | Tel: 020 7131 4000 |
Canaccord Genuity - Joint Broker Antony Isaacs Ben Griffiths | Tel: 020 7523 8000 |
Arden Partners - Joint Broker Christopher Hardie | Tel: 020 7614 5900 |
Buchanan - Financial PR Richard Oldworth | Tel: 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.