Published Date:
05 December 2008
PROFITS have soared at transportation group Dart after a "strong performance" from Jet2.com, its no frills airline.
Shares also took off after the Aim-lised group reported a 97 per cent rise in pre-tax profits to £36.3 million.
Revenues in the six months to 30 September rose by 8 per cent to £272.8m, with underlying pre-tax profits up by 175 per cent to £33.5m.
Jet2.com flies to 74 destinations in the Canary Islands and around the Mediterranean and Red Seas using a fleet of 40 aircraft.
The airline flies from Edinburgh and five airports in the north of England.
Philip Meeson, Dart's chairman, said: "Notwithstanding these strong results, the board has decided, after careful consideration, not to pay an interim dividend, maintaining a cautious approach in recognition of current economic conditions.
"We expect a more challenging trading environment next year and will continue to manage the business cautiously in the light of current economic conditions."
Dart, which has a market cap of about £40m, is based at Leeds-Bradford airport.
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Last Updated:
04 December 2008 9:47 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Budget airlines
