Jet2 (JET2)

Sector:

Commercial Transport

Index:

FTSE AIM 50

1,437.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 1,519.00
  • 52 Week Low: 1,017.00
  • Currency: UK Pounds
  • Shares Issued: 214.68m
  • Volume: 300,314
  • Market Cap: £3,085.01m

Dart Group flies lower in face of Brexit and cost pressures

By Duncan Ferris

Date: Thursday 15 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Jet2 airline owner Dart Group's shares stumbled on Thursday after the outift told investors that the second half will bring "increased losses" as cost pressures take their toll.
Philip Meeson, executive chairman of Dart said cost pressures such as fuel and other operating charges, plus the continued investment in products and operations including that required to retain and attract colleagues, are emerging headwinds for the AIM traded company.

"This, coupled with the overall uncertain UK economic outlook particularly related to Brexit and how it may impact on consumer spending, means we remain unclear how demand will develop in the medium term," said Meeson.

However, in the six months ended 30 September profit before tax jumped by 56% to £337.4m and revenue rose by 36% to £2.25bn following a 25% increase in passenger numbers to 8.93m

Furthermore, the travel and leisure business enjoyed a "particularly strong season" as average ticket prices were up by 17% to £88.02 and average costs for Jet2's higher margin package holidays were 7% higher at £689.

Meanwhile, revenue from the distribution & logistics business also grew by 7% to £88.9m after new contract wins.

Cash and cash equivalents stood at £912.4m at 30 September, up from the £485.9m registered at the same point last year, and proposed an interim dividend of 2.8p per share, up from 1.5p.

"On the assumption that the UK Government secures a pragmatic and balanced Brexit agreement with the EU, the outlook remains bright and we continue to have confidence in the resilience of both our Leisure Travel and Distribution & Logistics businesses," said Meeson.

Dart Group's shares were down 12.81% at 857.50p at 0940 GMT.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Jet2 Market Data

Currency UK Pounds
Share Price 1,437.00p
Change Today -5.00p
% Change -0.35 %
52 Week High 1,519.00
52 Week Low 1,017.00
Volume 300,314
Shares Issued 214.68m
Market Cap £3,085.01m

Jet2 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
29.9% below the market average29.9% below the market average29.9% below the market average29.9% below the market average29.9% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Price Trend
72.44% above the market average72.44% above the market average72.44% above the market average72.44% above the market average72.44% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average
Income
45.38% below the market average45.38% below the market average45.38% below the market average45.38% below the market average45.38% below the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Growth
79.12% above the market average79.12% above the market average79.12% above the market average79.12% above the market average79.12% above the market average
63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average63.64% above the sector average

What The Brokers Say

Strong Buy 7
Buy 8
Neutral 1
Sell 0
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Jet2 Dividends

  Latest Previous
  Final Interim
Ex-Div 19-Sep-24 28-Dec-23
Paid 23-Oct-24 02-Feb-24
Amount 10.70p 4.00p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 17,383 @ 1,437.00p
16:35 123,344 @ 1,437.00p
16:35 1 @ 1,437.00p
16:35 126 @ 1,437.00p
16:35 222 @ 1,437.00p

Jet2 Key Personnel

CEO Stephen Heapy

Top of Page