Pre-Close Trading Update

17 Apr 2007 13:17

Dart Group PLC17 April 2007 17 April 2007 Dart Group Plc ("the Group") Pre-close Trading Update Dart Group PLC, the aviation and distribution group, announces a pre-closetrading update ahead of the Group's preliminary results for the year ended 31March 2007, which are due to be announced on 28 June 2007. Since announcing interim results on 23 November 2006, the Group's low-costairline Jet2.com has continued to invest in its route structure, launching anumber of new routes earlier than originally planned. It has also launchedJet2holidays.com, its on-line package holiday product. Both of these initiativesinvolved unbudgeted development investment and marketing costs, which will bewritten off against 2006/07 profits. Fowler Welch-Coolchain has seen good volumes and continued to trade ahead of theBoard's expectations. Cash flow remains strong, with year end net debt approximately £16 million.Further investment in the aircraft fleet was made in the second half, with thepurchase of three Boeing 757 aircraft and two spare engines. The Group'sstrategy is to continue to grow both organically and by selective acquisition. Overall, the Board expects the Group's full year results to show strong growthover the previous year, with revenues in line with expectations. The acceleratedinvestment in new routes at Jet2.com has led to higher costs in the year to 31March 2007. Consequently, the Group's pre-tax profits will be moderately lessthan the market's best expectations. For further information contact: Philip Meeson 01132-387444 07785-258666 Mike Forder 01202-597680 07721-865850 This information is provided by RNS The company news service from the London Stock Exchange