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Leeds-based Jet2 performance reflects growing success
The owner of Jet2.com and Jet2holidays, has reported its pre-tax profits grew by 36%, from £130.2m to £177.5m.

The leisure, travel and distribution & logistics group said its performance reflected the growing success of it leisure travel products – flights with airline Jet2.com and package holidays tour operator Jet2holidays which had led to continuing strong customer demand for both
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Dart Group has reported that though overall demand for is leisure travel products has continued to strengthen since the start of the new financial year, it is clear from our forward booking trends that generally, less confident consumers are booking later than last year and therefore pricing for both our flight-only and package holiday products has to be continually enticing.

Looking further ahead, the Travel Industry in general is facing cost pressures in relation to fuel, carbon and other operating charges which, together with the necessary continued investment in our own products and operations, including that required to attract and retain colleagues, are headwinds that the business faces.

However, in the long term Dart Group said it was confident of the resilience of both its Leisure Travel and Distribution & Logistics businesses.

During the year, Jet2.com flew a total of 12.82m flight-only and package holiday passengers (2018: 10.38m), with its flight-only service used by 6.49m passengers, a growth of 21%. Jet2holidays took 3.1m customers on package holidays (2018: 2.5m) – an increase of 27%.

Chairman Philip Meeson said: “Both our Leisure Travel and Distribution & Logistics businesses have made satisfactory starts to the new financial year.

"Though overall demand for our leisure travel products has continued to strengthen since the start of the new financial year, it is clear from our forward booking trends that generally, less confident consumers are booking later than last year and therefore pricing for both our flight-only and package holiday products has to be continually enticing.

"Nevertheless, with still some way to go in the booking cycle, the Board remains optimistic that current market expectations for Group profit before foreign exchange revaluations and taxation for the year ending 31 March 2020 will be met.

“Looking further ahead, the Travel Industry in general is facing cost pressures in relation to fuel, carbon and other operating charges which, together with the necessary continued investment in our own products and operations, including that required to attract and retain colleagues, are headwinds that the business faces. However, in the long term we are confident of the resilience of both our Leisure Travel and Distribution & Logistics businesses.

“The Group particularly dedicates significant resources to deliver Real Package Holidays™ and we believe we have the strategy to grow our flight-only and package holiday businesses, with the products, the people and the proposition to go from strength to strength. With our Customer focused approach, we are confident that our customers will continue to be keen to travel with us from our Rainy Island to the sun spots of the Mediterranean, the Canary Islands and to European Leisure Cities.”

Preliminary Results for year ending 31 March 2019

Profit before taxation improved by 36% to £177.5m (2018: £130.2m).

Performance reflects the growing success of our Leisure Travel products which has led to continuing strong customer demand for both.

During the year, Jet2.com flew a total of 12.82m flight-only and package holiday passengers (2018: 10.38m), with the flight-only product enjoyed by 6.49m passengers, a growth of 21%.

Demand for its Real Package Holidays™ continued to grow, as Jet2holidays took 3.17m customers on package holidays (2018: 2.50m), an increase of 27%.

Operating losses for the second half of the year increased, as the Group continued to invest in additional aircraft and marketing, together with the increasing cost of retaining and attracting colleagues in readiness for our expanding Summer 2019 flying programme.

Distribution & Logistics profit before tax decreased by £0.1m to £4.3m (2018: £4.4m) on improved revenues of £178.7m (2018: £168.6m), as it continued to attract new business from both existing and new customers.

In consideration of these results, the Board is recommending an increased final dividend of 7.4p per share (2018: 6.0p), which will bring the total proposed dividend to 10.2p per share for the year (2018: 7.5p), an increase of 36%.

Both Leisure Travel and Distribution & Logistics businesses have made satisfactory starts to the new financial year.


Leeds-based Jet2 performance reflects growing success, 11th July 2019, 9:10 AM