Air Partner PLC Trading Statement (9408O)
August 25 2017 - 2:00AM
UK Regulatory
TIDMAIR
RNS Number : 9408O
Air Partner PLC
25 August 2017
25 August 2017
Air Partner plc
PRE-CLOSE TRADING STATEMENT
Air Partner plc ('Air Partner' or 'Group'), the global aviation
services group, is today releasing a trading statement for the six
months ended 31 July 2017, ahead of entering its close period on 29
August 2017. A detailed update on business performance will be
provided with the interim results, which are expected to be
released on 28 September 2017.
Air Partner has made a strong start to the year with underlying
pre-tax profit for the first half of the financial year expected to
be not less than GBP4.0m, which compares to GBP3.0m reported in the
same period last year. The Group retains a strong net cash
position.
Our Broking division, comprising Aircraft Charter and
Remarketing, has performed well across all product lines during the
first half, while the Consulting & Training division is
delivering solid results with an encouraging pipeline of
opportunities to be secured in the second half of the financial
year.
In line with our growth strategy, the Board continues to assess
investment opportunities, both organic and acquisition, to enhance
or extend the services and capabilities we offer our customers
around the world, and to strengthen and advance our market
position. We are on a journey of transformation, with the clear
objective to become a more balanced business, with two market
leading divisions - Broking and Consulting & Training -
providing exceptional service and value to our customers globally
and delivering high quality and increasingly visible earnings to
our shareholders.
Outlook
The Board is pleased with the strong start to the year and
remains comfortable with its expectations for the full year.
As we always state, in the world of aviation, and most
especially in the global charter industry, it is prudent to be ever
cautious and vigilant. The global charter business has always been,
and will continue to be, a volatile industry, and against this
backdrop we will manage the business for the long term, with a very
clear strategy of alignment to the needs of our global customer
base.
Ends
Enquiries:
Air Partner 01293 844800
Mark Briffa, Chief Executive
Officer
Neil Morris, Chief Financial
Officer
Kate Patrick, Investor
Relations
Temple Bar Advisory 020 7002 1080
Tom Allison 07789 998 020
Alycia MacAskill 07876 222 703
About Air Partner:
Founded in 1961, Air Partner is a global aviation services group
that provides worldwide solutions to industry, commerce,
governments and private individuals. The Group has two divisions :
Broking division, comprising air charter broking and remarketing;
and the Consulting & Training division, comprising the aviation
safety consultancies, Baines Simmons and Clockwork Research. For
reporting purposes, the Group is structured into four divisions:
Commercial Jets, Private Jets, Freight (Broking) and Consulting
& Training (Baines Simmons and Clockwork Research). The
Commercial Jet division charters large airliners to move groups of
any size. Air Partner Remarketing, which is formed within the
Commercial Jet division, provides comprehensive remarketing
programmes for all types of commercial and corporate aircraft to a
wide range of international clients. Private Jets offers the
Company's unique pre-paid JetCard scheme and on-demand charter.
Freight charters aircraft of every size to fly almost any cargo
anywhere, at any time. Baines Simmons is a world leader in aviation
safety consulting specialising in aviation regulation, compliance
and safety management. Clockwork Research is a leading fatigue risk
management consultancy. Air Partner is headquartered alongside
Gatwick airport in the UK. Air Partner operates 24/7 year-round and
has 20 offices globally. Air Partner is listed on the London Stock
Exchange (AIR) and is ISO 9001:2008 compliant for commercial
airline and private jet solutions worldwide. www.airpartner.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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