Gama Aviation PLC Half Year Trading Update (3038L)
July 18 2017 - 2:00AM
UK Regulatory
TIDMGMAA
RNS Number : 3038L
Gama Aviation PLC
18 July 2017
18 July 2017
Gama Aviation Plc (AIM: GMAA)
Half Year Trading Update
In advance of its half year results, Gama Aviation Plc ("Gama
Aviation"), the global business aviation services provider, today
provides an update on trading for the half year ended 30 June
2017.
Gama Aviation will release its half year results on 7 September
2017.
Trading
Trading for the first six months of the year has been
encouraging and remains in line with our expectations for the full
year. The Group has also made good progress in improving its cash
conversion with net debt further reducing during the period.
Air Division
Our US Air division continues to benefit from strong organic
growth, underpinned by the contracted growth on the Wheels Up
contract and buoyant markets. The Landmark integration continues to
progress as planned and full integration is still expected by the
end of this financial year. Within our EU Air division, we have
continued to build on the operational efficiencies made in 2016
with notable margin improvements in the first half of this year.
The Middle East and Asia Air divisions have had a positive six
months with new contract additions that should improve top line
growth and bottom line performance in the second half of the
year.
Ground Division
Our line maintenance offering in the US Ground division has
shown promising organic growth, and recent contract wins should
flow through in the second half of the year. Our EU Ground division
continues to show the benefits of the modest pick-up in
discretionary spend as well as increased maintenance activity
arriving from the contract wins announced earlier in the year. Our
Middle East Ground division has had a productive first half with
revenues and margins ahead of the comparative period due to
continued improvements in the number of movements through our
Sharjah FBO as well as strong parking and hangarage returns.
Marwan Khalek, Chief Executive Officer commented:
"This has been a busy and encouraging trading period for Gama
Aviation and trading remains in line with our full year
expectations. We have continued to target and deliver organic
growth and operational efficiencies as well as improvements in our
working capital and cash conversion. We are pleased with the
progress that we are making on all fronts and together with the
recent strengthening of the European management team we remain well
placed to deliver on our strategic objectives."
Ends
For further information please visit www.gamaaviation.com or
contact:
Gama Aviation Plc +44 (0) 1252 553000
Marwan Khalek, Chief Executive Officer
Kevin Godley, Chief Financial Officer
Camarco +44 (0) 20 3757 4992
Ginny Pulbrook
Geoffrey Pelham-Lane
Jefferies International +44 (0) 207 029 8000
Simon Hardy
Will Soutar
Gama Aviation - Notes to Editors
Gama Aviation (GMAA) is a global business aviation services
company that specialises in providing support for individuals,
corporations and government agencies. Gama Aviation is now one of
the top three global players in a highly fragmented market, with a
fleet of over 250 aircraft. Gama operates across Europe, the US,
the Middle East, Asia and Africa.
Gama's services can be split into two broad areas: Air and
Ground. The Air Operations include aircraft management, special
mission and charters, with Ground Services covering aircraft
maintenance services, aircraft modification design and installation
and Fixed Base operations.
http://www.gamaaviation.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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