UK: Dart Group reports fall in profits, revenue growth
13.07.2017 UK: Dart Group reports fall in profits, revenue growthInsider Media, 13 Jul 2017, online:-
Dart Group recorded pre-tax profits of GBP 90.10mn (EUR 101.82mn USD 116.09mn) in the year to 31 March 2017, a 14% decline on the previous year. The holding company for Jet2 cited a GBP 10.9mn charge for foreign exchange revaluation losses and investment in two new Jet2.com operating bases as factors contributing to the fall in profits. Dart's revenues reached GBP 1.73bn, up 23% on the year before. Revenues were boosted by a rise in Jet2.com passenger numbers from 6.07mn to 7.1mn and a 42% rise for package holidays to 1.73mn. Competitive market conditions contributed to a fall in profits at Dart's distribution and logistics unit, although revenues rose from GBP 144mn to GBP 163.5mn.
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