Dart Group 'disappointed' with Brexit vote as FY profits soar

Leisure travel and logistics group Dart Group said it was “disappointed” with the UK decision to leave the European Union as it more than doubled full year pre-tax profits to £104.2m from £57.2m.

Revenue was up 12% to £1.4bn reflecting strong trading in Dart's Leisure Travel business and an improved performance in distribution & logistics.

Leisure Travel revenue grew 15% to £1.2bn reflecting increased yields from both flight-only and package holidays products and a 22% increase in package holiday customers, who represented 40% of total departing passengers against 33% last year, Dart said.

Distribution & Logistics improved its profit before tax by £2.1m to £5.4m on reduced revenues of £144.0m (2015: £151.7m) as lower fuel costs were passed on to customers.

“The current financial year has started well in both our leisure travel and distribution businesses,” Dart said.

“Although we were disappointed at the result of the recently held referendum on whether the UK should remain in the EU, we are confident that our customers will need our specialist food distribution services and will be keen to travel from our rainy islands to the sun spots of the Mediterranean, The Canaries and to European Leisure Cities.”