4 April 2011 – trading statement
The group has issued a trading statement confirming that pre-tax profit for the year to 31 March will be in line with current market expectations. Cash flow has remained strong during the period while forward bookings for Jet2.com remain satisfactory. The logistics operations at Fowler Welch-Coolchain have also reported good volumes of business. However, the cancellation of North African flying, higher fuel costs and continued consumer uncertainty will continue to cause nervousness among investors. We sold the shares out of the Aggressive Growth Portfolio last week and remain nervous of prospects. SELL.