Holidaymakers help Jet2 owner Dart Group soar
JET2 owner Dart Group said it has seen a big leap in profits and turnover on the back of the expansion of its Jet2holidays business.
The company, which also operates the Fowler Welch logistics business, said holidaymakers using Jet2holidays increased by 93% to over 417,000 last year helping it to deliver pre-tax profits of £6.8m as part of the group’s total pre-tax profit figure of £40.5m.
Airline Jet2.com, increased its profits to £29.3m while Fowler Welch contributed pre-tax profits of £4.4m.
Total turnover for the group increased by 27% to £869m in the year to March 31.
The company, which is based at Leeds Bradford International Airport, is paying a final dividend of 1.33p.
Dart Group said it spent £79.7m on buying seven aircraft, including two Boeing 737-800s last year.
Chairman Philip Meeson, said: “Each of our businesses have great opportunities in their respective marketplaces together with strong and energetic management in place. 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 12% for summer 2013, although margins will continue to remain challenging in this sector.
“Fowler Welch will continue to focus on developing a strong pipeline of future revenue opportunities whilst improving its operational efficiency as a result of system developments.
“We are encouraged both by our business opportunities and the start we have made to the current year but as always, in the current economic environment, we remain cautiously optimistic in respect of profit growth.”
