LONDON (ShareCast) - Dart Group’s shares advanced after the travel company reported a 37 per cent rise in pre-tax profit for the first half to 78.1m pounds.

Group revenue jumped 35% to £787.1m in the six months through September, driven by strong growth in the Leisure Airline and Package Holiday businesses during the summer period.

Leisure Airline revenue growth of 19% to £463.2m, was supported by a 13% increase in passenger numbers and increases in ticket yields and non-ticket retail revenues.

Package Holidays achieved 110% growth in revenues to £380.1m with customer numbers increasing by 103% to 634,866.

The dividend was raised 11% to 0.60p at 14:25.

However, the company warned that it remains cautious about profit growth as the winter months approach.

“Whilst the group's trading performance during the first six months of the year has been satisfactory, our leisure travel operations are becoming increasingly seasonal as we continue to grow the business and winter losses are expected to increase materially,” Chairman Philip Meeson said.

Shares rose 3.87% to 221.25p at 14:26 on Thursday.

RD

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