Profits up
And how long ago was it that everyone was predicting they were the next to go ......
LONDON (ShareCast) - Aviation (AHGIQ.PK - news) and distribution group Dart revealed a 97% rise in interim pre-tax profit after (Advertisement)
a strong performance from its low cost leisure airline Jet2.com.
Pre-tax profit rose to £36.3m for the six months ended 30 September 2008 from £18.4m the year before. Turnover rose 8% to £272.8m.
"This significant improvement in trading performance was principally driven by Jet2.com, the group's low-cost leisure airline, and reflects both improved yields and load factor," Dart said in a company statement.
The is however not paying an interim dividend, as it remains "cautious approach in recognition of current economic conditions."
Looking ahead to future trading, Dart said on an underlying basis, it expects second half trading to be in line with last year.
Jet2.com forward booking levels remain encouraging for the winter and its distribution unit Fowler Welch-Coolchain continues to perform in line with the board's expectations.
"We expect a more challenging trading environment next year and will continue to manage the business cautiously in the light of current economic conditions," the group added.