Air Partner PLC Trading Statement (9408O)

TIDMAIR

RNS Number : 9408O

Air Partner PLC

25 August 2017

25 August 2017

Air Partner plc

PRE-CLOSE TRADING STATEMENT

Air Partner plc ('Air Partner' or 'Group'), the global aviation services group, is today releasing a trading statement for the six months ended 31 July 2017, ahead of entering its close period on 29 August 2017. A detailed update on business performance will be provided with the interim results, which are expected to be released on 28 September 2017.

Air Partner has made a strong start to the year with underlying pre-tax profit for the first half of the financial year expected to be not less than GBP4.0m, which compares to GBP3.0m reported in the same period last year. The Group retains a strong net cash position.

Our Broking division, comprising Aircraft Charter and Remarketing, has performed well across all product lines during the first half, while the Consulting & Training division is delivering solid results with an encouraging pipeline of opportunities to be secured in the second half of the financial year.

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.

Outlook

The Board is pleased with the strong start to the year and remains comfortable with its expectations for the full year.

As we always state, in the world of aviation, and most especially in the global charter industry, it is prudent to be ever cautious and vigilant. The global charter business has always been, and will continue to be, a volatile industry, and against this backdrop we will manage the business for the long term, with a very clear strategy of alignment to the needs of our global customer base.

Ends

Enquiries:

 
  Air Partner                                 01293 844800 
  Mark Briffa, Chief Executive 
   Officer 
  Neil Morris, Chief Financial 
   Officer 
   Kate Patrick, Investor 
   Relations 
 
  Temple Bar Advisory                        020 7002 1080 
  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 and Clockwork Research. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Consulting & Training (Baines Simmons and Clockwork Research). The Commercial Jet division charters large airliners to move groups of any size. Air Partner Remarketing, which is formed 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. 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

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August 25, 2017 02:00 ET (06:00 GMT)