Pre-Close Trading Update
17 April 2007 - 11:17PM
UK Regulatory
RNS Number:0001V
Dart Group PLC
17 April 2007
17 April 2007
Dart Group Plc ("the Group")
Pre-close Trading Update
Dart Group PLC, the aviation and distribution group, announces a pre-close
trading update ahead of the Group's preliminary results for the year ended 31
March 2007, which are due to be announced on 28 June 2007.
Since announcing interim results on 23 November 2006, the Group's low-cost
airline Jet2.com has continued to invest in its route structure, launching a
number of new routes earlier than originally planned. It has also launched
Jet2holidays.com, its on-line package holiday product. Both of these initiatives
involved unbudgeted development investment and marketing costs, which will be
written off against 2006/07 profits.
Fowler Welch-Coolchain has seen good volumes and continued to trade ahead of the
Board's expectations.
Cash flow remains strong, with year end net debt approximately #16 million.
Further investment in the aircraft fleet was made in the second half, with the
purchase of three Boeing 757 aircraft and two spare engines. The Group's
strategy is to continue to grow both organically and by selective acquisition.
Overall, the Board expects the Group's full year results to show strong growth
over the previous year, with revenues in line with expectations. The accelerated
investment in new routes at Jet2.com has led to higher costs in the year to 31
March 2007. Consequently, the Group's pre-tax profits will be moderately less
than the market's best expectations.
For further information contact:
Philip Meeson 01132-387444 07785-258666
Mike Forder 01202-597680 07721-865850
This information is provided by RNS
The company news service from the London Stock Exchange
END
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