Air Partner PLC Trading Statement (2009C)
January 18 2018 - 2:00AM
UK Regulatory
TIDMAIR
RNS Number : 2009C
Air Partner PLC
18 January 2018
LEI: 213800JLR6YIRMSCUS98
18 January 2018
Air Partner plc
TRADING STATEMENT - AIR PARTNER HAS GOOD SECOND HALF
PERFORMANCE
Air Partner plc ('Air Partner' or 'Group'), the global aviation
services group, is today releasing a trading statement ahead of its
scheduled update on 1(st) February, and its financial year ending
on 31 January 2018. A detailed update on business performance will
be provided with the full year results, which are expected to be
released on 26 April 2018.
With two weeks to go before the end of the financial year, 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. In Consulting & Training, the forward
pipeline remains encouraging.
Underlying pre-tax profit for the financial year ending 31
January 2018 is expected to be not less than GBP6.4m, which
compares to GBP5.1m reported in the same period last year and ahead
of market consensus of GBP5.9m. The Group retains a strong net cash
position.
The acquisition of SafeSkys, a leading Environmental and Air
Traffic Control services provider to UK & International
airports, announced in September, is performing in line with
expectations and we are excited about the long term prospects for
this business under our ownership. SafeSkys operations relocated to
our London Gatwick HQ in November 2017 and integration has now
completed.
In line with our clear 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, which will over the long term, strengthen and advance
our market position as we deliver exceptional service and value to
our customers globally.
Outlook
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.
Ends
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) NO 596/2014).
Enquiries:
Air Partner 01293 844 788
Mark Briffa, Chief Executive Officer
Neil Morris, Chief Financial Officer
Kate Patrick, Investor Relations
TB Cardew (PR Advisor to Air Partner) 020 7930 0777
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, Clockwork Research and
SafeSkys, as well as Air Partner's Emergency Planning Division. For
reporting purposes, the Group is structured into four divisions:
Commercial Jets, Private Jets, Freight (Broking) and Consulting
& Training (Baines Simmons, Clockwork Research, SafeSkys and
Air Partner's Emergency Planning Division). The Commercial Jet
division charters large airliners to move groups of any size. Air
Partner Remarketing, which is 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. SafeSkys
is a leading Environmental and Air Traffic Control services
provider to UK and International airports. 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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