Air Partner eyes further acquisitions after positive start to the year
30 / 06 / 2016
Air Partner, which provides aviation services, has provided a trading update at its annual general meeting (AGM), saying the financial first quarter is progressing well and that it is on the lookout for further acquisitions.
For the financial year ended January 31, Air Partner made a profit before tax of £4.3m while its freight business doubled profits after performing particularly well in the UK and Germany.
At the AGM, company chief executive Mark Briffa said Air Partner had made a positive start to the year and trading had continued at similar levels to last year with all parts of the business contributing to the positive start.
Briffa said: “Integration of Cabot Aviation and Baines Simmons, which the Group acquired last year, has been completed and there is clear opportunity to grow these businesses in the years ahead.
“We continue to assess investment opportunities, both organic and acquisitions, which will further add or enhance the services and capabilities we can provide to our clients across the world.
“The Group continues to maintain a strong net cash position and we remain optimistic about the Group’s prospects for the remainder of the year.”