Although group revenue increase by 12% to £1,405.4 million for the year ending March 31, 2016, operating profit increased 109% to £105 million. This meant profit before tax grew by 82% to £104.2 million.
The group’s leisure travel revenue grew 15% to £1,261.4 million as Jet2.com flew a total of 6.07 million passengers, up from 6.05 million the previous year giving it an average load factor of 92.5%, 1.3 percentage points higher than the previous year.
Meanwhile, Jet2holidays took 1.22 million customers on holiday, an increase of 22% year on year.
The group said in the results: “The current financial year has started well in both our leisure travel and istribution businesses.
"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."
Dart Group chairman Philip Meeson added: “The increase in profitability reflects the strength of the group’s leisure travel business, which combines both Jet2.com, our leisure airline and Jet2holidays, our package holidays provider, together with an improved performance from Fowler Welch, our distribution and logistics business.”
He also said the group is expecting delivery of the 27 new Boeing 737-800NG aircraft ordered last September to start this September until April 2018. A further three aircraft were ordered in December.
Meeson added total capital expenditure for the year was £213.5 million, considerably more than the £76.4 million spent in the previous year.
However, this included the purchase of three used Boeing 737-800NG aircraft, one for summer 2015 and two for summer 2016, and continued investment in the long-term maintenance of our existing fleet of aircraft and engines.
He said the new aircraft pre-delivery payments have been substantially financed.
