Revenues for the Group behind Jet2 and Fowler Welch spiked 34% while Operating Profit jumped 22%.
Companies: Jet2 PLC
Summer 2017 has proven to be a strong season for Dart Group (LON: DTG) with Jet2 and Jet2 Holidays recording strong passenger volume growth.
Despite being a tough season in terms of pricing, Revenues for H1 18 grew 36% to £1.51bn while Operating Profit grew 22% to £205m thanks to a 41% increase in seat capacity.
The Group began operating out of London Stansted and Birmingham airport during the period against a backdrop of uncertainty and failing competitors, including the recent collapse of rival British airline Monarch.
As a result of the strong summer season and a continued uplift in bookings since the beginning of H2 Management said:
"The Board is optimistic that market expectations of Group profit before foreign exchange revaluation and tax for the year ending 31 March 2018 will be materially exceeded."
As a result, DTG has jumped 10% in early morning trading on Thursday.
The Group's smaller logistics operations in Fowler Welch also recording marginal growth in Revenues and Operating Profit.
The European airline industry has recently been through a period of change and uncertainty with the likes of Alitalia, Monarch, and Air Berlin all going into administration, while others such as Easyjet continue to thrive during turbulent times.
DTG has seen Revenues grow an average of 20% year-on-year for the five years to 2017, with the Group is well on track to reach consensus Revenue forecasts of £2.2bn in FY18. DTG trades at a forecast PE ratio of 14x and has a current Market Cap of c. £891m.
