The share price of wine retailer Majestic Wine (LSE:WINE) was topped up by 7% when markets opened this morning. It's easy to see why. Underlying sales rose by 4.2% to £217m during the six months to 2 October, while adjusted pre-tax profit rose to £6.8m, compared to just £0.1m for the same period last year.
As the company heads into the busiest period of the year, further growth seems likely. Today I'll look at the numbers behind this turnaround and explain why I think further gains are likely.
Shares in travel company Dart Group (LSE:DTG) are surging after the company reported a robust fiscal first half.
For the period, revenue jumped 34% year-on-year, while operating profit rose 22% to £204.9m. Basic earnings per share also climbed 30% to 117.4p and, off the back of these numbers, management hiked the interim dividend payout by 9%.
The FTSE 100 edged up 1.56 points to 7,373.17 on Thursday morning following a positive showing from equity markets in Asia.
Royal Mail (RMG) gained 3.7% to 403.4p after reporting a 2% rise in its underlying revenue. But pre-tax profit slumped by 30% to £77 million in the six months to 24 September, led by a drop in profits in the UK Parcels, International and Letters (UKPIL) division.
Keller Group (KLR) gained 1.2% to 929.5p on news it is course to meet the board's expectations for the full year, with good year-on-year growth in both revenue and operating profit.
Operating profits at leisure travel and distribution & logistics group Dart rose by 22% to £204.9m in the six months to the end of September.
Revenues were up 34% at £1,663.9m and pre-tax profits of £212.5m were up by 30%.
The group declared an interim dividend of 1.5p per share - up 9%.
Executive chairman Philip Meeson said: 'In what has proven to be a strong summer season in terms of passenger volume growth for both Jet2holidays and Jet2.com, though a challenging season in terms of pricing, group operating profit increased by 22% to £204.9m (2016: £167.5m)
Dart Group expects full-year underlying pre-tax profits to meet current forecasts despite airline ticket yields being lower than those achieved in summer 2016, shareholders at today's annual general meeting will be told.
Executive chairman Philip Meeson will say: "The satisfactory start to the financial year as reported in our preliminary results Statement of 13 July 2017 has continued, with Leisure Travel bookings growing in line with our 41% summer 2017 seat capacity increase.