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Company Announcements

AGM Statement 05 September 2019

05th September 2019

RNS Number : 2623L
Dart Group PLC
05 September 2019
 

 

5 September 2019

Dart Group PLC ("the Company")

Annual General Meeting Statement

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

"In our Leisure Travel business, the later booking trend as reported in our Preliminary Results Statement on 11 July 2019 has continued, with overall demand for both our Flight-Only offering and Package Holiday product continuing to strengthen. Encouragingly, package holiday customer numbers as a proportion of total departing customers have increased for summer 2019 to date.

Winter season forward bookings have yet to match our seat capacity growth, therefore pricing for both our leisure travel products will need to remain continually enticing.

Encouraging progress continues to be made at Fowler Welch, our Distribution & Logistics business, with new commercial wins improving the quality of revenue and operational excellence ensuring customer satisfaction.

With still some way to go in the Leisure Travel winter booking cycle, the Board remains optimistic that current market expectations for Group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be met.

Looking further ahead, given the cost pressures the Travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.

The Board will provide a further trading update on publication of its interim results on 21 November 2019."

 

For further information please contact:

 

Dart Group plc

Philip Meeson, Executive Chairman

Gary Brown, Group Chief Financial Officer

 

 

0113 239 7817

 

Cenkos Securities plc

Nominated Adviser

David Jones / Katy Birkin

 

 

020 7397 8900

Canaccord Genuity

Joint Broker

Adam James

 

020 7523 8000

 

Arden Partners

Joint Broker

Tom Price / Simon Johnson

 

 

 

020 7614 5900

Buchanan

Financial PR

Richard Oldworth

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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September 05, 2019 at 00:00

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