Dart Share Discussion Threads

[castleford tiger] 16/11/2017 08:57

got to attract some comment.
The post Monarch boost kicked in during second half.
tiger

[maximus57] 16/11/2017 08:44

Well done Tiger. Good call, certainly on the ball. Your forecast of 10pd a share might not be as far off as you think

[valhamos] 16/11/2017 08:30

Excellent results. Cash - I think the point is, such is the cash generation and growing customer advance payments, that so far the purchase of additional planes has yet to seriously affect the levels of net cash held.

[castleford tiger] 16/11/2017 08:24

As a result, at the reporting date, the Group's cash and money market deposit balances had increased by GBP242.1m (2016: GBP183.1m) to GBP931.1m (2016: GBP595.1m), which included advance payments from Leisure Travel customers of GBP345.8m (2016: GBP243.0m) in respect of their future holidays and flights. Net cash, stated after borrowings of GBP574.2m (2016: GBP129.4m), was GBP356.9m (2016: GBP465.7m).

SPOB that's pretty clear.

CASH 931 ADVANCE PAYMENTS 345.

[spob] 16/11/2017 07:49

Although it is nice that all airlines hold a lot of cash due to advance bookings

remember it is not their cash until they have fulfilled those bookings and also paid the associated costs

[snorkelparker] 16/11/2017 07:48

Very positive commentary as well..

[1pvh] 16/11/2017 07:48

What do you reckon 80/85p full year earnings? £7.00 is still cheap considering business model and all the bangers and mash!!

[snorkelparker] 16/11/2017 07:46

Good call Tiger, pretty much on the money...

[spob] 16/11/2017 07:44

borrowings have nothing to do with advance customer payments

[castleford tiger] 16/11/2017 07:43

Open where chaps? ( and ladies)

650/680p

[castleford tiger] 16/11/2017 07:42

No net is net. 357.7 AFTER BORROWINGS

[spob] 16/11/2017 07:41

I think "Net cash" includes customer payments for services yet to be provided

still nice results

[1pvh] 16/11/2017 07:37

Magnificent results considering expansion costs. Net cash 357million after borrowings. Incredible!!Well done Dart!

[castleford tiger] 16/11/2017 07:24

I go

PBT 200.00 up 20% ACTUAL 204.00
EPS up to 110p up 20% ACTUAL 117P
Revenue up to 1.65 m up 50% ACTUAL 1.663

Heavy cost-cutting held back full and real profit.
Second half be better due to a jump in prices.

I think that's a pretty good go.

The most amazing fact is NET CASH APPROACHING 357 M almost 50% of market cap.

I see a BIG jump today

Tiger

[suetballs] 16/11/2017 07:23

Well no complaints from me.
Suet

[mirabeau] 16/11/2017 07:22

'materially exceeded'...strong words indeed. For the word 'materially' insert the word 'substantially'

[macarre] 16/11/2017 07:19

I did not like so much the bit where they said they're seeing the emergence of certain cost pressures...

[nakedsteve] 16/11/2017 07:15

tongosti how's that short coming along for u? guess you better get back to shining shoes boy.....

[woozle1] 16/11/2017 07:10

I think this the phrase that we were all (maybe not Bellendus Maximus aka Tongosti)

As a result, the Board is optimistic that market expectations of Group profit before foreign exchange revaluation and tax for the year ending 31 March 2018 will be materially exceeded.

W

[trytotakeiteasy] 15/11/2017 23:44

CT - Wizz Air has gone all in on lowering costs. Everything from the country where its HQ is (Hungary) to where it domicile is for tax purposes (Switzerland). Wizz Air describes itself as Ultra Low cost carrier versus just a low cost carrier. They try to avoid primary airports.

[castleford tiger] 15/11/2017 20:21

I wonder how Wizz Air gets a 25% margin on flight only.
Valued at 12x earnings.
I think we will smash those figures quoted in earlier post.
Possible 100 p jump tomorrow

Tiger

[castleford tiger] 15/11/2017 16:22

Is that pbt figure on tomorrow's results? Or next year

TOMORROWS HALF YEAR.

margin fall due to buying business from a standing start in the South East.

Happy days

Tiger

did tell you the numbers on the Monday after Monarch demise that were floating about . Over 31000 holidays in a day

[fokker45] 15/11/2017 15:41

There appears to be two analysts following Dart Group. For FY2018 ending 31.03.2018 they are forecasting (FY 2017 in brackets):

Revenue 2233m (1729m)
PBT 72m (90.1m)
PBT margin 3.2% (5.2%)
EPS 40.16 (51.8)
DPS 6.16 (5.272)

I don’t know why the analysts are forecasting PBT and margin to fall, I “presume”; it’s due to capex on new B738? Not gone in to detail reading the annual report, I really should. I am personally not that happy that the margin is forecasting to go down so much, these are still relatively good times, and would be much happier with a PBT margin in range of 5% to 7%. However, if it is fleet costs, can only agree that the fleet really did need upgrading.

Due to the very different halves of year DTG has, based on analyst estimates and FY2017 split I would expect H1 FY2018 to be:

Revenue 1601m, PBT 131m

and based on FY2016 split to be:

Revenue 1627m, PBT 101m.

Will see what tomorrow brings.

Last year Meeson announced he expected to slightly exceed expectations, and jumped from 399p to 433p. This year I hope he comments about Monarch. Of the airlines most likely to benefit from the Monarch bankruptcy, I believe its Dart. The day before the Monarch bankruptcy, shares were 537p, they jumped next day to 578p (+7.5%). Just now they are 592p, up 10% after the Monarch bankruptcy. I suspect the upside of Monarch bankruptcy is now fully priced in.

I added to my Dart portfolio after Monarch bankruptcy at 558p and 566p, have some small holdings bought between 422p and 511p, and some large holdings from January 2013 bought at 138p and 143p. Don’t have any cash at present to add to my holdings in case of a positive H1 report tomorrow, my exit position is at 490p, so will have to be terrible news tomorrow to see me start exiting Dart.

[eoghanocb] 15/11/2017 13:56

Is that pbt figure on tomorrow's results? Or next year?