Dart turnover soars to new heights
THE company behind the Jet2.com airline has seen turnover leap by more than a quarter.
Overall, pre-tax profits at Dart Group rose 7% although they fell in the airline business where the firm was hit by higher fuel costs.
The company’s Jet2Holidays package travel business moved from a loss last year to a £2.5m pre-tax profit, while the Fowler Welch distribution and logistics arm grew pre-tax profits from £2.6m to £3.9m.
Chairman Philip Meeson said: “We plan to grow each of our businesses in the year ahead. Fowler Welch has a number of business development opportunities throughout its network and is benefiting from recent wins in the North West.
“Jet2Holidays is set for further growth in the current year, with forward bookings at encouraging levels. We have expanded Jet2.com’s flying programme by 10% for summer 2012, although margins remain challenging in this sector.
“We are encouraged both by these business opportunities and by the start we have made to the current year but in the current economic environment we are cautious in respect of profit growth.”
During the year to the end of March, Leeds-based Dart invested £47.3m in the business including the acquisition of five aircraft and new vehicles for Fowler Welch.
The Dart board is recommending a rise in the annual dividend from 0.83p to 0.89p per share.
