Jet2 owner Dart Group: H1 revenue soars to £2.6bn

Shares of Leeds-based Dart Group, owner of Jet2.com and Jet2holidays, rose about 6% on Thursday after it said its revenue for the half year to September 30 rose 16% to £2.6 billion and the group said it expects current market expectations for full-year group profit to be “significantly exceeded.”

First-half profit before tax rose 2% to £339.7 million and interim dividend per share will be increased 7% to 3p.

On October 11, shares of Dart Group soared after it said in a trading update it was receiving “encouraging levels of later season bookings” and increased levels of customer demand since Thomas Cook Group entered liquidation.

On Thursday, Dart Group executive chairman Philip Meeson said: “With leisure travel bookings continuing to strengthen and notwithstanding the important post-Christmas booking period that is still to come, the board now expects current market expectations for group profit before FX revaluation and taxation for the year ending 31 March 2020 to be significantly exceeded.

“Looking further ahead, whether the currently encouraging consumer demand for our products remains buoyant in the medium term is unclear as we believe that much will depend on the UK Government securing a pragmatic and balanced Brexit agreement with the EU.

“In addition, the travel industry in general continues to be subject to a range of cost pressures in relation to fuel, foreign exchange, carbon and other operating charges.

“These, together with the necessary continued investment in our own products and operations, including that required to attract and retain colleagues, are headwinds that our leisure travel business faces.”

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