Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Jet2 Plc
[{"type":"text","content":"\n Dart Group PLC\n17 April 2007\n\n\n 17 April 2007\n\n\n\n\n\nDart Group Plc ('the Group')\n\nPre-close Trading Update\n\n\nDart Group PLC, the aviation and distribution group, announces a pre-close\ntrading update ahead of the Group's preliminary results for the year ended 31\nMarch 2007, which are due to be announced on 28 June 2007.\n\nSince announcing interim results on 23 November 2006, the Group's low-cost\nairline Jet2.com has continued to invest in its route structure, launching a\nnumber of new routes earlier than originally planned. It has also launched\nJet2holidays.com, its on-line package holiday product. Both of these initiatives\ninvolved unbudgeted development investment and marketing costs, which will be\nwritten off against 2006/07 profits.\n\nFowler Welch-Coolchain has seen good volumes and continued to trade ahead of the\nBoard's expectations.\n\nCash flow remains strong, with year end net debt approximately £16 million.\nFurther investment in the aircraft fleet was made in the second half, with the\npurchase of three Boeing 757 aircraft and two spare engines. The Group's\nstrategy is to continue to grow both organically and by selective acquisition.\n\nOverall, the Board expects the Group's full year results to show strong growth\nover the previous year, with revenues in line with expectations. The accelerated\ninvestment in new routes at Jet2.com has led to higher costs in the year to 31\nMarch 2007. Consequently, the Group's pre-tax profits will be moderately less\nthan the market's best expectations.\n\n\nFor further information contact:\n\nPhilip Meeson 01132-387444 07785-258666\n\nMike Forder 01202-597680 07721-865850\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2058,"tagName":"div"}]