Revenues up at Fowler Welch
First-half revenues at Spalding-headquartered logistics business Fowler Welch have risen by 5 per cent to £74m, its parent company Dart Group said this morning.
This increase was achieved despite a planned reduction in container activity, the company said. Investment in the business' network and operating infrastructure meant operating margins dropped, it added.
Looking ahead, Dart said the outlook for Fowler Welch was encouraging despite an "extremely" competitive market.
Across the group, Dart said improved performance of its Jet2holidays operation has driven half-year pre-tax profit to £41.6m on increased turnover of £445.7m.
Its other main division, Jet2.com, was said to have grown "significantly", with capacity up by 29 per cent in the six months with the growth of Jet2holidays accounting for almost a quarter of the increase in Jet2.com passenger volumes.
Dart said it still hopes its full year results will be in line with market expectations despite challenging conditions.
