If Brexit means tighter belts, the all-inclusive holiday could be an important component in the travel industry's protective armoury. Dart 's (DTG) package holiday business Jet2holidays saw customer numbers rise by more than a fifth to 1.22m and 40 per cent of its holidays were sold on a 'defined price' basis - meaning everything is paid for outright all the way down to ice creams for the kids. Management said this is a "resilient, great value offering for families on a tight budget and is particularly attractive for challenging economic times". It is also higher margin which – alongside far lower fuel costs – helped operating profit more than double to £99.6m.
The group's food industry distribution business, Fowler Welch, also saw profit spike by nearly two-thirds to £5.4m. Post period-end, the group added more than 50,000 sq ft to its fruit ripening and packaging site in Teynham in Kent and agreed a contract with fellow food producer Dairy Crest (DCG) to take over its Nuneaton-based UK distribution centre, which will "provide an important additional revenue stream".
Analysts at Canaccord Genuity expect pre-tax profit of £89.3m for the year ending March 2017, leading to EPS of 47.7p, compared with £105.5m and 60.8p in FY2016.
| DART (DTG) | ||||
|---|---|---|---|---|
| ORD PRICE: | 567p | MARKET VALUE: | £839m | |
| TOUCH: | 566-568p | 12-MONTH HIGH: | 684p | LOW: 408p |
| DIVIDEND YIELD: | 0.7% | PE RATIO: | 9 | |
| NET ASSET VALUE: | 215p | NET CASH: | £342m | |
| Year to 31 Mar | Turnover (£bn) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2012 | 0.68 | 28.1 | 16.0 | 1.32 |
| 2013 | 0.87 | 40.5 | 21.7 | 1.87 |
| 2014 | 1.12 | 42.1 | 24.7 | 2.74 |
| 2015 | 1.25 | 40.2 | 22.4 | 3.00 |
| 2016 | 1.41 | 104 | 60.2 | 4.00 |
| % change | +12 | +159 | +169 | +33 |
Ex-div: 15 Sep Payment: 21 Oct | ||||
