Air Partner sees strong second half results for freight in broker division
18 / 01 / 2018
UK-based aviation services group Air Partner has reported a "good second half" financial year for its broking division, including "strong results in the US and in freight".
In a trading statement ahead of the end of its current financial year on January 31, the company said: "Air Partner is pleased to report that it has had a good second half. This has been driven by continued performance across all product lines within the Broking division, including strong results in the US and in freight."
It added that underlying pre-tax profit for the current financial year is expected to be "not less than £6.4m", which compares with £5.1m reported in the same period last year and ahead of market consensus of £5.9m. The group retains a "strong net cash position".
The September 2017 acquisition of SafeSkys, an environmental and air traffic control services provider to UK and international airports, is "performing in line with expectations".
In line with its stated growth strategy, the Air Partner board continues to assess investment opportunities, both organic and acquisition, to "enhance or extend the services and capabilities we offer our customers".
In its outlook, Air Partner said: "Air Partner has had another encouraging year and the board is confident about future prospects.
"As we always state, the world of aviation, and most especially the global charter industry, can be volatile. Against this backdrop we manage the business for the long term, with a very clear strategy of alignment to the needs of our global customer base."
A detailed update on Air Partner's business performance will be provided with the full year results, which are expected to be released on April 26 this year.
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