Jet2 owner Dart Group expects strong profits

Leeds-based leisure and logistics firm Dart Group, owner of Jet2.com and Jet2holidays, said on Wednesday it expects group profit before foreign exchange revaluation and taxation to be slightly ahead of current market expectations for the year ended March 31, 2019.

However Dart Group also said in a trading update that summer 2019 forward bookings in its Leisure Travel business, though positive, are reflecting “some consumer uncertainty” amid Brexit confusion and that pricing for both its flight-only and package holiday products has become more competitive.

“Due to the continued success of our growing Leisure Travel business, the board expects group profit before foreign exchange revaluation & taxation for the year ended 31 March 2019 to be slightly ahead of current market expectations,” said Dart.

For the year ending March 31, 2020, Dart said: “We highlighted in our November 2018 interim results announcement that due to the overall uncertain UK economic outlook, particularly in relation to Brexit, we remained unclear how demand would develop in the medium term.

“We are now seeing that summer 2019 forward bookings in our Leisure Travel business, though positive, reflect some consumer uncertainty and that pricing for both our Flight-Only and Package Holiday products is more competitive.

“Our Distribution & Logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.

“With a considerable way to go in the leisure travel booking cycle, the board remains optimistic of meeting current market expectations of group profit before foreign exchange revaluation & taxation for the year ending 31 March 2020.

“The group will announce its preliminary results for the year ended 31 March 2019 on 11 July 2019 at which point it will provide a fuller outlook for the all-important Summer 2019 trading period.”

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