SMALL BUT BEAUTIFUL: Jet2.com flying as Dart points the way to success

Published on Thursday 4 December 2008 21:23

PROFITS have soared at transportation group Dart after a "strong performance" from Jet2.com, its no frills airline.

Shares also took off after the Aim-lised group reported a 97 per cent rise in pre-tax profits to 36.3 million.

Revenues in the six months to 30 September rose by 8 per cent to 272.8m, with underlying pre-tax profits up by 175 per cent to 33.5m.

Jet2.com flies to 74 destinations in the Canary Islands and around the Mediterranean and Red Seas using a fleet of 40 aircraft.

The airline flies from Edinburgh and five airports in the north of England.

Philip Meeson, Dart's chairman, said: "Notwithstanding these strong results, the board has decided, after careful consideration, not to pay an interim dividend, maintaining a cautious approach in recognition of current economic conditions.

"We expect a more challenging trading environment next year and will continue to manage the business cautiously in the light of current economic conditions."

Dart, which has a market cap of about 40m, is based at Leeds-Bradford airport.