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Fowler Welch trading in-line with tough market expectations

Leeds Bradford Airport, UK:  Fowler Welch which supplies major retailers with chilled and ambient goods, is “trading in line with expectations in a sector that continues to experience tight margins” says Philip Meeson, chairman and chief executive of Fowler’s owner, Dart Group, in a trading update.

“What’s very difficult is to get price rises,” said Meeson. “Fuel costs are passed on… but other prices are difficult to pass on as they are in aviation.”  Dart also owns budget airline Jet2 which reports increased passengers in the six months to the end of September. Analyst Peter Ashworth, at Charles Stanley stockbrokers, said: “In light of this update we anticipate a rally in the shares.”

Current market forecasts are for full-year pre-tax profits of about £30m and earnings per share of 16p, Ashworth said.