Dart Group increases its 2017 interim dividend by 53%

DividendMax Ltd.

Dart Group increases its 2017 interim dividend by 53%

A strong summer season saw Group revenue increase 21% to £1,240.8m (2015: £1,024.0m) whilst Group operating profit, which was underpinned by continued growth in our Leisure Travel business, increased 14% to £167.5m (2015: £147.1m). * Profit before tax grew 12% to £163.7m (2015: £146.8m). The Group's Interim dividend per share will increase by 53% to 1.375p (2015: 0.900p).  Leisure Travel revenue growth of 22% to £1,160.8m (2015: £951.7m) reflects a 36% increase in the number of Jet2holidays package holiday customers to 1.28m (2015: 0.94m), representing 50% of overall flown customers (2015: 42%).  Jet2.com also flew 2.51m flight-only passenger sectors (2015: 2.65m) during the period.   * Though airline ticket yields and average load factors were slightly lower than those achieved in last year's summer season, this is against a backdrop of a 13% increase in seat capacity.

* The Board recently announced the launch of two new operating bases at Birmingham and London Stansted Airports, with flying due to commence in late March 2017. We believe these bases have great potential for our holidays business and will both further strengthen our position in the Midlands and enable us to serve the populations of North and East London and the East of England.

* Whilst we recognise the likely upward pressures on market pricing following the weakening of Sterling post Brexit; for the long term, we have confidence in the resilience of our Leisure Travel business and are encouraged by the increasing proportion of customers taking our great value, real package holidays.  With winter 2016/17 Leisure Travel bookings continuing to perform in line with expectations, the Board is currently optimistic that market expectations for the full year will be slightly exceeded.

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