Dart Group PLC Trading Update (5904B)
05 April 2017 - 4:00PM
UK Regulatory
TIDMDTG
RNS Number : 5904B
Dart Group PLC
05 April 2017
5 April 2017
Dart Group PLC ("the Group")
Trading Update 5 April 2017
Dart Group PLC, the Leisure Travel and Distribution &
Logistics group, is pleased to give the following update on
trading.
The Group continues to develop and build its businesses. The
Board expects Group underlying profit before taxation ([1]) for the
year ended 31 March 2017 to be ahead of current market
expectations, as a result of lower than anticipated winter losses.
Looking ahead to the year ending 31 March 2018, forward bookings in
the Leisure Travel business for summer 2017 are satisfactory.
Trading at Fowler Welch, our Distribution & Logistics
business is promising, as it continues to focus on growing and
successfully developing existing and new business
opportunities.
Although it is still early in the leisure travel booking cycle,
given current forward bookings and the recent successful launch of
our new operating bases at London Stansted and Birmingham airports,
the Board expects to meet current market expectations of profit
before taxation for the year ending 31 March 2018.
The Group will publish its Preliminary Results for the year
ended 31 March 2017 on 13 July 2017.
([1]) Underlying profit before taxation is stated before
non-cash foreign exchange losses, resulting from the retranslation
at the reporting date of US dollar denominated debt used to fund
the acquisition of aircraft. The movement in this US dollar
liability cannot be naturally offset against the value of the
aircraft, which is fixed in pounds Sterling at the point of
acquisition to comply with the requirements of International
Financial Reporting Standards.
For further information contact:
Dart Group PLC Tel: 0113 239 7817
Philip Meeson, Group Chairman and Chief
Executive
Gary Brown, Group Chief Financial Officer
Smith & Williamson Corporate Finance Tel: 020 7131 4000
Limited
Nominated Adviser
David Jones
Katy Birkin
Canaccord Genuity - Joint Broker Tel: 020 7523 8000
Bruce Garrow
Ben Griffiths
Arden Partners - Joint Broker Tel: 020 7614 5900
Christopher Hardie
Buchanan - Financial PR Tel: 020 7466 5000
Richard Oldworth
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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