Dart Group PLC AGM Statement (2623L)

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RNS Number : 2623L

Dart Group PLC

05 September 2019

5 September 2019

Dart Group PLC ("the Company")

Annual General Meeting Statement

At the Company's Annual General Meeting today, Philip Meeson, Executive Chairman, will make the following statement:

"In our Leisure Travel business, the later booking trend as reported in our Preliminary Results Statement on 11 July 2019 has continued, with overall demand for both our Flight-Only offering and Package Holiday product continuing to strengthen. Encouragingly, package holiday customer numbers as a proportion of total departing customers have increased for summer 2019 to date.

Winter season forward bookings have yet to match our seat capacity growth, therefore pricing for both our leisure travel products will need to remain continually enticing.

Encouraging progress continues to be made at Fowler Welch, our Distribution & Logistics business, with new commercial wins improving the quality of revenue and operational excellence ensuring customer satisfaction.

With still some way to go in the Leisure Travel winter 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, given the cost pressures the Travel industry is facing in general, which will intensify given the weakness in sterling, plus the deepening Brexit uncertainty and the impact this may have on consumer confidence, we remain very cautious in our outlook.

The Board will provide a further trading update on publication of its interim results on 21 November 2019."

For further information please contact:

 
 Dart Group plc 
  Philip Meeson, Executive Chairman 
  Gary Brown, Group Chief Financial 
  Officer                              0113 239 7817 
 Cenkos Securities plc 
  Nominated Adviser 
  David Jones / Katy Birkin            020 7397 8900 
 Canaccord Genuity 
  Joint Broker 
  Adam James                           020 7523 8000 
 
   Arden Partners 
   Joint Broker 
   Tom Price / Simon Johnson             020 7614 5900 
 Buchanan 
  Financial PR 
  Richard Oldworth                     020 7466 5000 
 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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September 05, 2019 02:00 ET (06:00 GMT)