Shares of Dart Group soar as Jet2 takes off

Shares of Leeds-based leisure and logistics firm Dart Group, owner of and Jet2holidays, rose 4% on Thursday after it gave a positive trading update at its annual general meeting.

Dart Group executive chairman Philip Meeson told the meeting: “The satisfactory start to the financial year as reported in our preliminary results statement of 13 July 2017 has continued, with leisure travel bookings growing in line with our 41% summer 2017 seat capacity increase.  

“Demand for our higher margin package holiday products remains strong and holiday customer numbers as a proportion of total departing customers have increased slightly.

“It is particularly encouraging to report that our new London Stansted and Birmingham Airport operating bases are already proving popular, with over 1.3 million passengers booked to fly with this summer, of which close to 50% have chosen a package holiday with Jet2holidays.

“Continued progress is being made at Fowler Welch, our distribution & logistics business.

“Despite our airline ticket yields being lower than those achieved in summer 2016, overall the board expects the group to meet current market expectations of underlying profit before taxation for the year ending 31 March 2018 and will provide a further trading update on publication of its interim results on 16 November 2017.”