Leeds’ Dart Group lifts profit expectations

Leeds-based leisure and logistics firm Dart Group, owner of Jet2.com and Jet2holidays, said in a trading update it expects underlying profit before taxation for the year ended March 31, 2017, to be ahead of current market expectations “as a result of lower than anticipated winter losses.”

Dart Group shares rose about 8% to around 564p to give it a stock market value of roughly £800 million.

“Looking ahead to the year ending 31 March 2018, forward bookings in the leisure travel business for summer 2017 are satisfactory,” said the firm.

“Trading at Fowler Welch, our distribution & logistics business is promising, as it continues to focus on growing and successfully developing existing and new business opportunities.

“Although it is still early in the leisure travel booking cycle, given current forward bookings and the recent successful launch of our new operating bases at London Stansted and Birmingham airports, the board expects to meet current market expectations of profit before taxation for the year ending 31 March 2018.”