Jet2 owner's shares soar over 37 per cent as profit takes off

 
Alys Key
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Shares were up more than 37 per cent today (Source: Getty)

The owner of the Jet2 travel and holiday brand reported a jump in annual revenue and profit this morning, sending its shares flying.

The Aim-listed company's shares were up over 37 per cent in early trading.

The figures

Revenue ascended 38 per cent to £2.39bn.

Pre-tax profits were up 49 per cent to £134.6m.

The board upped the final dividend to 6p.

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Why it's interesting

The popularity of Jet2's package holidays grew rapidly, with 2.5m people picking the brand compared to 1.7m last year.

In the long term, Dart Group said it is confident this success will continue because the highly detailed planning of package holidays is not easily replicated by non-specialist rivals.

However, the company signalled that it was cautious on the short-term outlook due to "emerging cost pressures coupled with the overall uncertain UK economic outlook, particularly related to Brexit and how it may impact on consumer spending".

What Dart Group said

Chairman Philip Meeson said: "The group dedicates significant resources to deliver an innovative and industry leading product and together with our scale, experience, competitiveness and customer focused approach, we believe we have a strong and resilient leisure travel business."

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