and Jet2holidays parent raises full year profit expectations and Jet2holidays parent raises full year profit expectations

A recovery from heavy discounting will help improve annual profits at the parent company of and Jet2holidays.

Dart Group also described forward bookings for summer 2018 as being “satisfactory”.

Issuing a trading update this morning, the company said: “Due to the continued success of our growing leisure travel business and a more normalised pricing environment after the heavy discounting in the market over the past year, the board now expects group underlying profit before taxation for the year ending 31 March 2018 to be materially ahead of current market expectations.”

Looking to the next financial year ending in March 2019, the group said: “Forward bookings in our leisure travel business for summer 2018 are presently satisfactory.

“We also remain encouraged by the performance of our two new operating bases at London Stansted and Birmingham airports.

“It is still early in the leisure travel booking cycle and we remain cautious on pricing.

“However, given the satisfactory forward bookings and the execution of our growth strategy, the board currently expects the group’s trading performance for the year ending 31 March 2019 to be broadly in line with the current financial year.”

Financial results for the 12 months to March 31 are due to be published on July 12.

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