Jet2 owner celebrates profit rise but warns of possible Brexit turbulence ahead

The owner of Jet2 and Jet2holidays and fresh produce distributor Fowler Welch, Dart Group’s interim results show a profit rise, but much rests on proposed Brexit framework. Anna Tobin reports

The Jet2, Jet2holidays and Fowler Welsh owner, Dart Group’s interim results show an operating profit rise of 3% to £365 million for the half-year ending September 2019. With its leisure travel bookings continuing to strengthen, the Board is now forecasting that current market expectations for Group profit before foreign exchange revaluation and taxation for the year ending 31 March 2020 will be significantly exceeded.

The accompanying report warns, however, that: “whether the currently encouraging consumer demand for our products remains buoyant in the medium term is unclear, as we believe that much will depend on the UK Government securing a pragmatic and balanced Brexit agreement with the EU.”

The report also cites other outside pressures on the company, including fuel charges, foreign exchange volatility, carbon costs and other operating charges.

The full report can be accessed here