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Dart Group tops estimates in 'satisfactory' first half
21st Nov 2019 10:09
(Sharecast News) - Travel and logistics firm Dart Group now expects current full-year expectations to be 'significantly exceeded' after topping both profit and revenue estimates in its "satisfactory" first half.
Revenues shot up 16% in the six months ended 30 September to £2.61bn, while operating profits moved ahead 3.0% to £365m.
Dart said the "modest" increase in overall profitability was a result of later booking patterns amongst customers of its leisure travel business and some improved customer demand throughout the summer period.
Distribution and logistics revenues grew by 23.0% to £2.7m.
Dart Group 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."
However, Meeson cautioned that losses were still to be expected in the second half, with the group continuing to invest in additional aircraft and associated infrastructure.
As of 1010 GMT, Dart Group shares had lit up 8.74% to 1,468p.
Revenues shot up 16% in the six months ended 30 September to £2.61bn, while operating profits moved ahead 3.0% to £365m.
Dart said the "modest" increase in overall profitability was a result of later booking patterns amongst customers of its leisure travel business and some improved customer demand throughout the summer period.
Distribution and logistics revenues grew by 23.0% to £2.7m.
Dart Group 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."
However, Meeson cautioned that losses were still to be expected in the second half, with the group continuing to invest in additional aircraft and associated infrastructure.
As of 1010 GMT, Dart Group shares had lit up 8.74% to 1,468p.