Dart Group increases its 2016 final dividend by 38%

DividendMax Ltd.

 Group revenue increased 12% to £1,405.4m (2015: £1,253.2m) while Group operating profit increased 109% to £105.0m (2015 Underlying: £50.2m), reflecting strong trading in our Leisure Travel business together with an improved performance from the Group's Distribution & Logistics business.

 

*   Profit before tax grew 82% to £104.2m (2015 Underlying: £57.2m) and Basic earnings per share increased 90% to 60.22p (2015 Underlying: 31.72p).

 

*   In consideration of the Group's encouraging results, the Board is recommending a final dividend of 3.10p (2015: 2.25p), bringing the proposed total dividend to 4.00p per share for the year ended 31 March 2016 (2015: 3.00p).

 

*   Leisure Travel revenue grew 15% to £1,261.4m (2015: £1,101.5m) reflecting increased yields from both our flight-only and package holidays products and a 22% increase in package holiday customers, who represented 40% of total departing passengers (2015: 33%).

 

*   Distribution & Logistics improved its profit before tax by £2.1m to £5.4m (2015: £3.3m) on reduced revenues of £144.0m (2015: £151.7m) as lower fuel costs were passed on to customers.

 

*   The current financial year has started well in both our Leisure Travel and Distribution businesses.  Although we were disappointed at the result of the recently held referendum on whether the UK should remain in the EU, we are confident that our customers will need our specialist food distribution services and will be keen to travel from our rainy islands to the sun spots of the Mediterranean, The Canaries and to European Leisure Cities.