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Trading Update 19 February 2018

Posted in Announcements

February 19, 2018 at 15:32

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, Group Chairman and Chief Executive
Gary Brown, Group Chief Financial Officer
Tel: 0113 238 7444

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.