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Dart Group Expects FY20 Profit To Exceed Market View; Stock Climbs

Shares of Dart Group PLC (DTG.L) were gaining around 13 percent in the morning trading in London after the airline Friday said it expects fiscal 2020 Group profit before foreign exchange revaluations and taxation to exceed the current market expectations.

The outlook is based on the strengthening booking trend.

In its trading update, the company noted that the Leisure Travel business has continued to receive encouraging levels of later season bookings. Overall demand for both Flight-Only offering and Package Holiday products continue to strengthen.

The company added that there were increased levels of customer demand since Thomas Cook Group Plc entered into compulsory liquidation in late September 2019. The company is assessing the impact this will have for its business in the coming months.

Looking further ahead, the company remains very cautious in its outlook citing that the cost pressures the Travel industry is facing in general will intensify.

In London, Dart Group shares were trading at 1,072.80 pence, up 14.68 percent.

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