Air Partner sees profits rise as Qatar blockade creates opportunities
25 / 08 / 2017
Aviation services company Air Partner expects to see first-half pre-tax profits increase to £4m from £3m during the same period last year.
The company said that its broking division, comprising aircraft charter and remarketing, "performed well across all product lines" during the first half, while the consulting and training division is delivering solid results with an "encouraging pipeline of opportunities to be secured in the second half of the financial year".
Investment bank Liberium said the freight division had performed well, albeit against a weak first-half 2016.
"The blockade of Qatar by several of its neighbours has created new opportunities for air freight to bypass surface transport alternatives that are now closed," it added.
Gerald Khoo of Liberum said: “Air Partner’s strong start to the year has continued. All parts of the group have performed well.
"As ever, visibility for the broking divisions remains limited, although the Consulting & Training division has an encouraging pipeline for [the second half]."
Looking ahead, the company said it would continue to seek out acquisitions to help grow the company.
"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."
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