Never been a big fan of airlines and companies especially since 9/11 but bookings are now well up and a recovery as taken place in the industry, in fact more people have decided to go abroad this year than the last few years and the alternative 'stay at home holiday is on the wane' as witnessed by a poor trading statement from Holidaybreak were the camping division as taken a big hit in paticular.
Dart carry out business in both the holiday, short haul and commercial divisions.

The company is very cheap with a P/E of only just over 7 and a forward P/E of just over 6.

It also pays a nice divi, and is a small cap capitalised at around circa of 48 million.

The cheapness as not gone unoticed as you will see from this report.


The smart investors' favourite budget airline

Published:
By Graeme Davies, Companies Correspondent
Email to a friend

A host of shrewd investors are backing budget airline and distribution business Dart Group with one top smaller companies team buying at the start of this month.

Dart (DTG), which operates fledgling budget airline jet2.com and also offers air distribution services using the same planes, has become a tempting destination after a slump in its share price in the second half of last year.


The latest buyers are the smaller companies team at Aberforth who bought 315,000 shares at the beginning of this month to increase the holding of the Aberforth UK Smaller Companies unit trust Aberforth UK Smaller Companies to just under 1.2 million shares.


Dart's share price surged to 224p in the first half of last year before falling back to 124p towards the end of the year. It has been as high as 162p in 2004 but today is unchanged at 132.5p.


At 132.5p the company is valued at just 7.25 times its expected earnings per share of 18p for this year, falling to 6.6 times next year's earnings. It also offers a healthy 4.7% dividend yield which is covered almost three times.


This valuation has attracted the likes of Framlington's AA-rated Roger Whiteoak who holds shares in both the Framlington UK Smaller Companies fund Framlington UK Smaller Companies Acc and Throgmorton investment trust (THRG). New Star's AAA-rated Patrick Evershed also holds 500,000 shares in the Select Opportunities unit trust New Star Select Opportunities and Rathbone's Carl Stick has 250,000 shares in the Rathbone Special Situations unit trust Rathbone Special Situations.


In the first half of the year Dart's pre-tax profits rose by 31% to 7.1 million from a 16% rise in turnover. However this was helped by the seasonal performance of jet2.com which is expected to be profitable in the summer months and loss-making in the winter.


Jet2 operates from Leeds/Bradford and Belfast with flights to 13 destinations once a Belfast-Prague service is launched at the end of this month.


When Dart's fleet of aircraft is not being used to transport holidaymakers they are utilised for distribution services, ferrying cargo, fresh produce and flowers. The company is also involved in freight forwarding at Manchester, Newcastle, east Midlands and London Heathrow.

The company will report its full-year results in June.

Looks a very sound value share to me and I think its a short to medium term investment.

Please DYOR you are responsible for the timing of your buying and selling actions.

cheers GF

A recovery story waiting to happen.



KEY FIGURES at Previous Day's Close
Market Cap. 45.70 m
Shares In Issue 34.49 m
Prev Close. 132.50 p
PE Ratio 9.25
Dividend Yield 4.61 %
EPS -basic 14.33 p
Dividend PS 6.11 p
Dividend Cover 2.35
Cash Flow PS 97.74 p
Return On Equity (ROE) 13.77 %
Operating Margin 3.74 %
PEG Factor -
EPS Growth Rate -22.16 %
Dividends PS Growth Rate - %
Net Debt 78 m
Gross Gearing 69.60 %
Quick Assets 37.98 m
Net Working Capital -8.06 m
Intangibles / Fixed Assets 10.12 %
Turnover PS 575 p
Pre-Tax Profit PS 21.51 p
Retained Profit PS 8.19 p
Cash PS 20.12 p
Net Cash PS -120 p
Net Tangible Asset Value PS * 83.69 p
Net Asset Value PS 108 p
Spread 5.00(3.70%)

cheers GF.

The comparative strength of the three Budget airlines, Dart, Eazyjet and Ryanair.



Comparative P/Es

DTG = 7.3

EZJ = 35.9

RYA = 100+ (subject to adjustment)

Conclusion, DART is derd cheap.


cheers GF.

VERY CHEAP indeed.

Very bright future too...

Hey Guys,

Just thought id tell you about DART GROUP. - The smart investors' favourite budget airline -

A host of shrewd investors are backing budget airline and distribution business Dart Group with one top smaller companies team buying at the start of this month.

Dart (DTG), which operates fledgling budget airline jet2.com and also offers air distribution services using the same planes, has become a tempting destination after a slump in its share price in the second half of last year.

Heres a few reasons why its a good time to buy now...

* Results in 7 weeks (16th June)
* ISA Stock
* The first half of the year Dart's pre-tax profits rose by 31% to 7.1 million from a 16% rise in turnover
* Company is very cheap with a P/E of only just over 7 and a forward P/E of just over 6
* Offers a healthy 4.7% dividend yield
* Market Cap. 45.70 m
* Shares In Issue 34.49 m
* 3.7% spread
* Directors and Institutions hold 61* of the shares, very few in public hands.
* Loads of cash in Bank
* Jet2 operates from Leeds/Bradford and Belfast with flights to 13 destinations once a Belfast-Prague service is launched at the end of this month.
* 16% (net book value) of the total tangible assets is in freehold property with less than 1% in short term leaseholds
* Airline booking increasing this year, a Very good recovery play considering the stock is on the bottom of its range...



When Dart's fleet of aircraft is not being used to transport holidaymakers they are utilised for distribution services, ferrying cargo, fresh produce and flowers. The company is also involved in freight forwarding at Manchester, Newcastle, east Midlands and London Heathrow.

Cheers
Invisage

Just seen a Jet2.com plane parked on the tarmac at Bournemouth airport as I drove past this afternoon

Not sure why, as we aren't on their passenger routeplan, because I just checked, so must have been on freight duties. Lots of Channel Islands fruit, veg and flowers come into Bournemouth airport, and there were several other freight planes there as well, all parked together.

Andy , why not run a fruit and veg stall down the local market, get the gear dead cheap of the planes and ask Chas and Dave to open it for you on your first trading day, DOWN THE MARKET DURA DURA DURE, DOWN THE MARKET etc.

cheers GF, ps, serves you right for siding with thirdeye.

good luck mate.

Up a nice 5p, great stuff, rather have a nice steady riser than a 5 day galloper.

cheers GF.

I hear pro investor Malcolm Stacey is an investor in these and cant beleive just how cheap they are.

cheers GF.

50K buy at the very end of the day bodes well for wednesday.

cheers GF.

goldfinger,

I guess the time of your post gives a clue as to why you posted that rubbish!

I don't "side" with anyone, I call everything as I see it, period!

His question was reasonable, hence my comment.

Posts a lot about a certain share, then various nubile idiots jump on to it and ramp it across any available bulletin board. You can't knock it in some ways I suppose, if you're smart enough to see what is going on you can make some money out of it. Just get out quick before the wheels start coming off. Seen it all before. Croma's the next one on the list. Very clever really, tell everyone how brilliant you are at making money from trading shares, never admit to your failures, and you will suck a lot of punters into following what you trade. Smart guy is GF.

Scottie - wateva.

Scottie, care to repeat that in a court of law?, If you are suggesting that I am ramping have the truth of your convictions and either present your case to a solicitor, or take it up with the FSA. Ramping is a crimminal offence.

I for one look forward to your reply and when you take up your action, you will then get a counter order from my solicitor.

goldfinger.

ps, everthing printed off dated 28th April 2004, 0.14 am.

Andy , no offence was meant to be taken up by you, just a little banter that is all.

My deepest appologies if I upset you, that was not my intention and also you will notice I post very late as I post from my business HQ were I run the business during the night.

regards GF.

Goldfinger,

Thanks for your reply, and I didn't take any offence!

This rise is incredible, especially when you consider high oil prices. Anyone know anything - contract wins etc??

Great aint it. I just identified it as massively undervalued.

cheers GF.

Hi GF. Been looking at this one for a while, keep thinking I've missed 'the flight', especially after moves like this morning. Do you still think its undervalued after such a strong move since may/june ?

No way of telling chester, just hope so.

cheers GF.

It's a fantastic rise, I'm just not sure why it's happening now. The PE is still sitting at 11 and they grow revenue and profits every year so if you're not in yet, you're probably not too late.

Hopefully there's also a reason for the rise, Post Office contract or something similar.

Hi guys, good to see people do well out of this stock. I bought in at 1.29 and sold at 1.50 after divi. I think this company has done remarkably seen as though:

1) Ryannair announced that there was going to be the mother of all price wars between low cost airlines.

2) Easyjets lower than expected results,

3) Oil prices been sky high and

4) The threat of terrorism.

The company owns Jet 2... which operates from Leeds & Bradford airport near me and in April I used them to go to Prague. The seats were full and the air hostess (a right minx might I add)told me that they were putting orders for more planes and looking to develop more routes... it seems to me that their business plan is working.

Well done for staying in guys, just goes to prove that fundamentals can come good in poor markets.

Check out a company called Broker Network Holdings (BNH) Looks very undervalued to me.

Still rising guys,


You know it makes sence.

Cherrs GF.

WOW and another rise today, get ready to sell guys.

Yup its up nearlly what 60% since the tip take the money if you need it.

Im staying put.

cheers GF.

Superb rise, should soon be a bagger.



cheers GF.

And still it flys.

Have heard news that they may be soon making an acquisition.

Time will tell.

cheers GF.

A nice move up today and still on a lowly rating.

cheers GF.

Bombing along, went bagger status today.

cheers GF.

Continuing to run, but looking more fairly valued at present.

cheers Gf.

Still going up, please remember patience is golden. Now nearly a one and a half bagger.



cheers GF.

goldfinger
only been on this one a couple of months moved in late at around 2.00
nice move up already holding on for more.forward p/e not demanding
good relative strength
and growth.
quantum leap also tipped this one in august 1.83

regards HUSTLER

Hi Hustler, nice to see you mate.

What you get from me is just that, the truth.

Some times I get it very wrong and sometimes I get it very right.

Stick with us we are a nice group of people.

regards goldfinger.

goldfinger
good comment gf, it seems we have a common view on the type of stock we invest in, good to bounce ideas around, be in touch soon.

regards HUSTLER

Closed long position down, made a very nice bagger plus profit on this. Looks fully valued at the moment, I may be wrong.

cheers GF

goldfinger
checked out the stats today on dart still looking good
forward per under 10 low for market and sector
growth still healthy over 20%
broker forcasts have been raised recently
and the share closed up again tody,hope there is more to come

regards HUSTLER.

Good luck to you Hustler,I could be wrong about this one and regret it, thats life.

cheers GF.

up 15 spots today to year high 308p bid
all stats still looking good will still hang in for more
hope it's right thing to do.


hustler

You jammy so and so, regretting getting out now, well done hustler.

cheers GF.

dart realy flying now
new high today 345p on the bid up 21 on day
the market is right behind it now
brokers recently lifted estimated ptp to march 05 by 3 million
with this momentum and spread of only 1.5% could move to 400p with ease
short term
per of around 12 is still low for sector could rise to 20 or more and still
not be demanding this potential could lift the price close to 600p
it also now ranks in the top 50 risers of the year confirming
the market is definitely behind it.


regards HUSTLER

Well its proved me wrong, just look at it go.

cheers GF.

It was always a good un GF
I got out far to early as well, just goes to show patience is a virtue
pick the very best and wait.
sorry to say i have limited patience as most.
However still dining out on the profit taken
and taking a profit isn't a sin.
All the best to those still in
HUSTLER

DTG looks like it might breakout to new highs. Pretty good results I thought and share split should improve rather poor liquidity. Any thoughts?

Dart Group sees H1 opg profit significantly below last year UPDATE
AFX


(Adds unit performances, share movement)

LONDON (Thomson Financial) - Aviation and distribution company Dart Group PLC said its first-half operating profit will be significantly below last year's levels due to lower margins, reflecting market conditions in both its businesses.

However, the company said its first-half turnover was well ahead of last year and in line with its expectations.

Dart Group still expects its outlook for the full-year to be approaching market forecasts.

The company's Fowler Welch-Coolchain unit had a satisfactory first half and is trading broadly in line with last year.

The Jet2.com unit has continued to build its network and customer base with significant expansion from each of its six bases during summer 2007, resulting in reduced margins as new routes are developed, the company added.

Dart Group said it expects Jet2.com's winter performance to improve from last year, reflecting lower growth in capacity relative to the previous winter season.

At 8:45 am, the shares were down at 76.525 pence from yesterday's close of 86.00 pence.

TFN.newsdesk@thomson.com

A bargain to be had here, Very solid management and a strong freight network, Night freight pays for the aircraft so jet 2can afford to run at a reduced load factor.
IMHO

is this worth buying as at all time low

Looks like another GF winner (not!)

yes, aint seen him for ages.....i remember his tips from years ago, most of them were poo

Thats rich coming from an MDX holder scotty

no-one picks winners every time......if u r, i'm surprised u r on this as u must be a multi billionaire by now at very least

It's the relentless hype I can't stand. Certain investors on here are renowned for glowingly reporting every twist and turn of an under-performing share - and doing it on several other forums at the same time - then exiting without explanation. I know it's every man (and woman) for themselves on here but, with such a suspect track record, folk like GF simply aren't worthy of being taken seriously.

yes paul....and cynic has a dreadful record in last year esp of slagging off most shares....but seems to buy crap ones like tan, lead etc....i think he pretends he sells them but i aint convinced.

yes gf has some stinkers....

Very good trading statement sent the price north on friday,would the same trend is likely to continue any one with experience in dtg.

Just opened a long in DTG DART lovely chart and fundies very strong. Cheap going forward. Reckon its bound to be in my system list tonigh

Interesting charts for DART DTG looks like a short to medium term bounce on here.........

Longer term chart....

Shorter term chart.......

Looks to be some good upside and fundies are very good aswel.

Jet2.com appoints operations director
Published on Tue Feb 01 20:24:40 GMT 2011

AN executive who played a major role in improving the performance of Heathrow's Terminal 5 has taken on a senior position at Yorkshire-based budget airline Jet2.com.

Jet2.com yesterday announced that Ashley Cowen had been appointed as the airline's operations director.




The company, which is based at Leeds-Bradford International Airport and is part of the Dart Group, said Mr Cowen will have responsibility for ground operations, operations control and crewing.




Mr Cowen has held a number of senior roles at British Airways (BA) and CitiExpress.




He has also been general manager of planning and control at Heathrow Airport, which saw him involved in improving the quality of operations at Terminal 5 following its opening in 2008.




He moves to Jet2.com from his role as BA's area general manager for Asia, Pacific and Africa, where he had responsibility for sales, marketing and airport customer service operations. Ian Doubtfire, the managing director of Jet2.com, said: "I am confident that Ashley will prove a valuable addition to the team."




Mr Cowen said: "I am passionate about delivering high-quality customer service and I'm keen to uphold the sterling reputation Jet2.com has in the industry as a punctual, safe and friendly airline.




"I believe customers recognise good service and this leads to loyal passengers, who travel with you time and again."




Apart from Leeds-Bradford, Jet2.com operates flights from Manchester, Newcastle, Belfast, Edinburgh, Blackpool, Glasgow and East Midlands airports.




More than 1.1m passengers flew with Jet2.com from Leeds Bradford airport heading out to 41 sun and city destinations last summer.




In a trading update issued in November, the company said expansion at the airport this year will create 145 jobs for the summer season





http://www.yorkshirepost.co.uk/business/business-news/jet2_com_appoints_operations_director_1_3054186

StockMarketWire.com
Leisure airline, package holidays, and distribution and logistics group Dart expects to exceed current market forecasts for the year to 31 March 2013.

The group says Jet2.com has had a strong summer due to volumes underpinned by the continued successful growth of Jet2holidays and helped by the particularly poor British summer weather.

Jet2.com flew 3.6 million passengers in the six months to September, an increase of 14% over the corresponding period last year, with increases in both yields and load factors.

Jet2holidays, the group's ATOL protected holiday operation, also had a successful summer, having taken 312,000 passengers on holiday during the first six months of the year, an increase of 97% on last year.

The group says this significant growth has been achieved through further improvements to the Jet2holidays product range, and development of its online and high street distribution channels.

Dart says its distribution business, Fowler Welch, which specialises in the distribution of temperature-controlled and ambient products to retailers, importers and manufacturers throughout the UK, is trading in line with expectations in a sector that continues to experience tight margins.

It says that as previously noted, the group's leisure travel operations are becoming increasingly seasonal as it continues to grow the business.

This, coupled with strong summer trading, will result in the group's profit before taxation for the first half of the year being ahead of last year, with increased losses expected in the second half.

Dart adds: "otwithstanding the current economic climate, the board expects to exceed current market expectations for the year ending 31 March 2013."

The group intends to announce its interim results on 22 November.

Trade on just 6x forecast earnings, potential for further growth. They trade below net assets too.

A share that could have further upside. The multiple commanded by shares in budget airline and package holiday group Dart looks measly when compared with growth expectations and its strong financial position. Thats despite the recent strong share price run.
If the company's November half year results are anything to go by, brokers could be underestimating the growth potential. The first half saw a doubling in Jet2Holiday bookings, which helped drive a 23% rise in revenues for its Jet2.com budget airline. Costs have been rising, like all airlines, the oil price will have a major influence on the company performance in 2013.

They also have the well known haulier below in the group

x

Dart

Vying with Dewhurst for top position is Dart (DTG) - another portfolio success story. Dart is primarily an airline, Jet2.com, but it also operates a rapidly-growing package-holiday business, Jet2holidays, and Fowler Welch, an established distributor of fresh and frozen food to supermarkets. All three businesses are profitable.

Like Dewhurst, Dart has for a long time been managed by its biggest shareholder, who, as with Dewhurst's equivalent, has told shareholders to expect more profit next year than they, and he, expected, given the economic circumstances. Provided the holidays business offers good value and service, Dart is showing that people still travel. If last year is a guide to future years - ignoring the growth investors might confidently expect this year or speculatively expect in future years - Dart is undervalued.

http://www.barchart.com/opinions/stocks/DTG.LS

In this weeks Shares mag - Despite the strong run of late, the shares still trade on an undemanding price/earnings ratio of 7.3 times for 2014 with a token yield too. The next key catalyst for the shares is likely to be the renegotiation of an ongoing contract the group has with the Royal Mail, for whom the firm provides overnight delivery services. Its estimated the deal generates £6 million of earnings before interest and taxes per annum. There has been some concern in the market that the deal has been put out to tender. We are of the view Dart will retain this contract, albeit maybe on slightly less favourable terms, and the 'relief factor' on a successful renegotiation would more than compensate for the slightly reduced economics. In the meantime the group's holidays business is reportedly going 'gangbusters'.


Also used in conjunction with "like", to create "like gangbusters". This phrase can be used to describe something energetic or intense.

Sold my holding, in at 115p

Gone back long again.

Robbie Burns has aswel.........

'm a bit wary of airlines - probably silly as look how well Easyjet has done.

On the other hand Flybe has been a stinker but have you been on one of their planes? Scary! Never again! And they will do you for fifty quid if you're even a matchstick over an allowance.

However Dart Group (DTG) runs Jet 2 Com up north and apparently I am told they are brilliant - they don't mess their customers about with baggage allowances etc and treat them well - and so customers really like them.

Which shows in their recent figures which are excellent. Jet 2 Holidays is doing really well. As a feeble southerner I don't get to use them but my hard northern mates at seminars tell me they are the dog's, erm.. dangly bits.

Perhaps this shows if you don't try and cost cut too much passengers are prepared to pay more for a good service.

Anyhow despite good rises already I think the shares could take off further and I bought them as a spreadbet for tax reasons as they're aim and can't get them in my isa. Bit of a seller at the mo at 170 but once through that 200 at least looks likelier than not.

I'd be out if they fell much below 160.

Still in gf ?

Chugging along nicely.

Results are out.

Well done Dil!

Just lucky ... threw a dart :)

SUPREME COURT REJECTS APPLICATION TO APPEAL IN HUZAR v JET2.COM LTD
- PROVISION TO COVER POTENTIAL CLAIMS
Dart Group PLC, the Leisure Travel and Distribution & Logistics Group, announces that its wholly owned operating company Jet2.com has had its application to the Supreme Court to appeal the Court of Appeal's earlier decision of June 2014 rejected. Jet2.com maintained that in certain circumstances a technical defect was an "extraordinary circumstance" under EU regulation 261.

Previously the European National Enforcement Bodies (for example the UK Civil Aviation Authority) had agreed that unexpected technical defects, such as the one in this case, were outside of the control of airlines and would therefore be considered "extraordinary" for the purposes of customer compensation.

Safety has always been Jet2.com's first priority. Aircraft have duplicate and triplicate systems to ensure that flights may continue to their destination safely. However, certain technical issues can prevent or delay departures. For these the company has back up and contingency plans to minimise inconvenience to customers.

Dart will be making a provision of £17m in its current financial year in order to cover potential historical claims arising from the Supreme Court's decision. Going forward, the Board estimates that the legislation may cost the Group a further £3m-£5m per annum. The Board is currently further reviewing its options to mitigate the future financial impact on its air travel operations.

Dart (DTG), down 5.7% to 246.13p, will make a provision of £17m in its current financial year to cover potential claims against its wholly-owned subsidiary Jet2.com.

are you short here GF aswel as FLYB?

No, just FLYB, wanted to show how the new delay provisions are going to effect airlines.

StockMarketWire.com
Leisure travel and distribution & logistics group Dart expects underlying operating profit for the year ending 31 March will be ahead of current market forecasts.

It says the results will be broadly in line with last year (2014: £49.2m), as a result of lower than anticipated winter losses.

Looking ahead to the year ending 31 March 2016, forward bookings in the Leisure Travel business for summer 2015 are encouraging, with over 50% of the season having already been sold, which is ahead of where we were at this stage last year.

The distribution & logistics business, Fowler Welch, continues to focus on growing its revenue pipeline and developing existing and new business opportunities.

The group intends to further develop and grow its businesses and expects further progress in the year ending 31 March 2016.

Canaccord Genuity reiterates buy on Dart Group, target raised from 285p to 415p.

Dart Group (AIM:DTG) – shares continue to soar on growing demand, is there more to go for? - See more at: http://tinyurl.com/ncnro6u

StockMarketWire.com
Leisure travel and distribution & logistics group Dart posts operating profits of £147.1m for the six months to the end of September - 103% up on last time.

Group revenues rose by 14% to £1,024.0m and underlying operating profits were up 67%.

Pre-tax profits rose to £146.8m - up 105% (66% on an underlying basis).

The interim dividend of 0.90p is up 20%.

Chairman Philip Meeson said: "The increase in Group operating profit reflects consistently strong summer trading in our Leisure Travel business coupled with our Distribution & Logistics business performing ahead of last year. However, increased losses are to be expected in the second half of the year as our expanding Leisure Travel business invests in additional aircraft, advertising and people in readiness for the summer 2016 season.

"The Group generated increased net cash flow from operating activities of £199.8m (2014: £93.2m), reflecting the improved Leisure Travel trading performance. Total capital expenditure of £60.9m (2014: £25.5m) included the purchase of one Boeing 737-800, pre-delivery payments for new aircraft, the majority of which have been financed, deposits for new aircraft and continued investment in the long-term maintenance of our aircraft fleet.

"Cash and money market deposits increased by £144.0m in the half (2014: £68.1m), resulting in total cash held at the reporting date of £446.8m (2014: £331.8m), which included advance payments from Leisure Travel customers of £183.7m (2014: £145.0m).

"Basic earnings per share increased to 79.82p from an underlying 48.25p in 2014. In view of the outlook for the full year, the Board has decided to pay an increased interim dividend of 0.90p per share (2014: 0.75p). The dividend will be paid on 1 February 2016 to shareholders on the register at 4 January 2016."

StockMarketWire.com
Dart Group posts a pre-tax profit of £163.7m for the six months to the end of September - 12% up on a year ago.

A strong summer season saw group revenue increase 21% to £1,240.8m (2015: £1,024.0m) while operating profit, which was underpinned by continued growth in its leisure travel business, increased 14% to £167.5m (2015: £147.1m).

Basic earnings per share rose by 14% to 90.65p and the interim dividend of 1.375p per share is up 53%.

The group said: "Whilst we recognise the likely upward pressures on market pricing following the weakening of sterling post Brexit; for the long term, we have confidence in the resilience of our Leisure Travel business and are encouraged by the increasing proportion of customers taking our great value, real package holidays.

"With winter 2016/17 Leisure Travel bookings continuing to perform in line with expectations, the Board is currently optimistic that market expectations for the full year will be slightly exceeded."