Report & Accounts 2012

REPORT & ACCOUNTS 2012 |

Report & Accounts 2012

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| REPORT & ACCOUNTS 2012

Dart Group PLC (“the Group”) is a Leisure Airline, Package Holidays and Distribution & Logistics group specialising in:

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the operation of scheduled and charter flights by Jet2.com to leisure destinations throughout Europe; the provision of ATOL protected package holidays by its tour operator Jet2holidays; and the distribution, by Fowler Welch, of fresh produce, temperature-controlled and ambient products to supermarkets and wholesale markets throughout the United Kingdom.

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REPORT & ACCOUNTS 2012 |

Highlights

Turnover (£m)

542.9 429.3 439.3 434.5 683.0

Contents

BUSINESS OVERVIEW Chairman’s Statement Business and Financial Review GOVERNANCE Directors and Senior Management 16 17 22 26 28 2 6

2008

2009

2010

2011

2012

Directors’ Report Report on Directors’ Remuneration Corporate Governance Statement Statement of Directors’ Responsibilities

EBITDA (£m)

65.9 52.6

64.2

62.9

37.2

FINANCIAL STATEMENTS Independent Auditor’s Report

2008 2009 2010 2011 2012

29 30 31 32 33 34 35 65 66

Consolidated Group Income Statement Consolidated Group Statement of Comprehensive Income Consolidated Balance Sheet Consolidated Group Cash Flow Statement Consolidated Group Statement of Changes in Equity Notes to the Consolidated Financial Statements Company Balance Sheet Notes to the Company Financial Statements

Net assets (£m)

115.5 93.4 74.4

147.9

158.9

2008

2009

2010

2011

2012

Advance sales at year end (£m)

177.1 96.9 95.1 121.4

256.8

SUPPLEMENTARY INFORMATION Glossary of Terms Secretary and Advisers Financial Calendar Notice of Annual General Meeting 73 74 75 76

2008

2009

2010

2011

2012

FINANCIAL HIGHLIGHTS AND CONTENTS

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| REPORT & ACCOUNTS 2012

Chairman’s Statement

I am pleased to report on the Group’s trading for the year ended 31 March 2012. Turnover grew by 26%...