2007/082006/072005/062004/052003/042002/03Key Documents

Dart Group PLC Company Reports

Annual Report and Accounts 2019/20

Chairman's Statement

Statutory Profit before taxation from continuing operations declined by 11% to £147.7m (2019: £166.5m). After the exceptional charge, basic earnings per share from continuing operations reduced by 18% to 74.97p (2019: 91.86p). As announced on 24 April 2020 and in consideration of the ongoing impact of Covid-19, the Board does not recommend the payment of a final dividend (2019: 7.4p per share), meaning a total dividend for the year of 3.0p per share (2019: 10.2p), a decrease of 71%.

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Business & Financial Review

The Group’s financial performance for the year ended 31 March 2020 is reported in line with International Financial Reporting Standards (“IFRS”), as adopted by the EU.

Despite Leisure Travel customer booking trends for the summer 2019 season being later than in previous years, the growing awareness and appreciation of our leisure travel products meant that overall demand for both our higher margin package holiday product from Jet2holidays and our flight-only offering from Jet2.com remained resilient.

Jet2.com flew a total of 14.62m (2019: 12.82m) single sector passengers to and from sun, city and ski destinations, an increase of 14% and only slightly behind the seat capacity increase of 15%. As a result, average load factors were a healthy 92.2% as compared to the prior year of 92.8%. Customers choosing our end-to-end package holiday product increased by 19% to 3.77m (2019: 3.17m), while single sector passengers choosing our important flight-only product increased by 9% to 7.06m (2019: 6.49m). Encouragingly, package holiday customers represented 52% of overall flown passengers (2019: 49%).

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Financial Statements

Including the Consolidated Group Income Statement, Consolidated Group Balance Sheet, and Consolidated Group Cash Flow Statement.

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