Dart Group expects to hit targets

Leeds-based Dart Group was updating the market on trading for the first half of the financial year in its principal businesses, Jet2.com, Jet2holidays.com, and logistics business Fowler Welch.Despite the “challenging” economic environment, Jet2.com has had a satisfactory summer, with passenger growth of 32 per cent to 3.2m in the 6 months to 30 September 2011.

Load factors have increased by more than two per cent to almost 90 per cent but yields have been under pressure. Margins are below last year, principally as a result of higher fuel costs.

The ATOL protected holiday operation, Jet2holidays.com, “continues to grow strongly, meeting customer demand for attractively priced package holidays from local airports and will take more than 200,000 customers on holiday this year”.

The company’s distribution business, Fowler Welch, specialises in the distribution of chilled and ambient foods on behalf of supermarkets and their suppliers.

Revenues have grown in line with the board’s expectations, although the business has also experienced some pressure on margins.

In a statement, Dart Group said: “Overall, the group’s profit before taxation for the first half of the year will be ahead of the same period in the prior year, with a similar level of losses expected in the second half of the year. The board still hopes to meet market expectations for the current year.”

The group plans to announce its interim results on November 17 2011.