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Trading Update 17 April 2019

Posted in Announcements

April 17, 2019 at 06:13

Dart Group PLC, the Leisure Travel and Distribution & Logistics group, is pleased to give the following update on trading.

Year ended 31 March 2019 (FY19)

Due to the continued success of our growing Leisure Travel business, the Board expects Group profit before foreign exchange revaluation & taxation for the year ended 31 March 2019 to be slightly ahead of current market expectations.

Year ending 31 March 2020 (FY20)

We highlighted in our November 2018 Interim Results announcement that due to the overall uncertain UK economic outlook, particularly in relation to Brexit, we remained unclear how demand would develop in the medium term. We are now seeing that Summer 2019 forward bookings in our Leisure Travel business, though positive, reflect some consumer uncertainty and that pricing for both our Flight-Only and Package Holiday products is more competitive.

Our Distribution & Logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.

With a considerable way to go in the leisure travel booking cycle, the Board remains optimistic of meeting current market expectations of Group profit before foreign exchange revaluation & taxation for the year ending 31 March 2020. The Group will announce its Preliminary Results for the year ended 31 March 2019 on 11 July 2019 at which point it will provide a fuller outlook for the all-important Summer 2019 trading period.

For further information, contact:

Dart Group PLC
Philip Meeson, Executive Chairman
Gary Brown, Group Chief Financial Officer
Tel: 0113 239 7817

Cenkos Securities plc
Nominated Adviser
David Jones/Katy Birkin
Tel: 020 7397 8900

Canaccord Genuity - Joint Broker
Ben Griffiths
Tel: 020 7523 8000

Arden Partners - Joint Broker
Tom Price/Simon Johnson
Tel: 020 7614 5900

Buchanan - 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.