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Dart Group AGM Statement 2017

Published: Thu 07 Sep 2017 at 15:38

Updated: Thu 07 Sep 2017 at 15:38


At the Company’s Annual General Meeting later today, Philip Meeson, Executive Chairman, will make the following statement:

“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 1.3m passengers booked to fly with this summer, of which close to 50% have chosen a package holiday with Jet2holidays.

Continued encouraging progress is being made at Fowler Welch, our Distribution & Logistics business, which is currently trading in line with expectations.

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.”

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, Executive Chairman
Gary Brown, Group Chief Financial Officer
Tel: 0113 239 7817
Smith & Williamson Corporate Finance Limited
Nominated Adviser
David Jones / Katy Birkin
Tel: 020 7131 4000
Canaccord Genuity
Joint Broker

Bruce Garrow / Ben Griffiths
Tel: 020 7523 8000
Arden Partners
Joint Broker

Christopher Hardie
Tel: 020 7614 5900
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.

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