BBA Aviation PLC Trading Statement (3541W)

TIDMBBA

RNS Number : 3541W

BBA Aviation PLC

14 November 2017

14 November 2017

Trading update

BBA Aviation ("the Group"), a market-leading provider of global aviation support and aftermarket services, is pleased to announce a trading update for the period 1 January to 31 October 2017.

The Group's trading performance remains in line with expectations, with revenue up 10.2% year-on year for the ten months to October, reflecting good organic growth in Signature and the contribution from acquisitions.

In Flight Support, Signature revenues in the ten months to 31 October grew 14.2% and on a like-for-like basis (organic, constant currency, adjusting for higher fuel prices) were up 3.8%. US B&GA flight movements have grown 3.7% over the nine months to 30 September, with improved growth of 4.3% for the three months ended 30 September. Signature like-for-like revenue growth for the same three month period ended 30 September was 5.3%. The Signature outperformance during the three months ended 30 September in part reflects good progress with our commercial renegotiations for the enlarged network.

The recent hurricanes: Harvey, Irma and Maria, caused minimal impact overall across the Signature network and we were able to re-establish services quickly and provide support for the rescue and relief efforts.

Signature has recently signed a Signature Select licence agreement with Fly Across at Toluca International airport in Mexico, our first location in Mexico and the closest B&GA airport to Mexico City. This increases the Group's affiliate FBO programme, Signature Select, to 19 locations.

In Aftermarket Services, revenue in the ten months to 31 October grew 1.8% but on a like-for-like basis declined 2.8%. Like-for-like revenue growth at Ontic was more than offset by declining revenues in ERO. Ontic which generates the majority of the Aftermarket Services underlying operating profit has performed well with a good contribution from the GE licences acquired at the end of 2016 and continues to see a strong pipeline of future growth opportunities.

Wayne Edmunds, BBA Aviation Interim CEO commented "The Group has traded in line with expectations during the period. We are particularly pleased with Signature's performance since the half year, which in part reflects the positive customer response to our enlarged network proposition. The outlook for the full year remains unchanged."

Notes:

The Group will publish its preliminary results for the year ending 31 December 2017 on 1 March 2018.

Enquiries:

BBA Aviation plc

David Crook, Group Finance Director

Kate Moy, Head of Investor Relations and Communications

[phone]

Tulchan Communications

David Allchurch

[phone]

Information on BBA Aviation plc

BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. We support our customers through three principal businesses: Signature Flight Support and Signature TECHNICAir(TM) which provide premium, full service flight and home base support including refuelling, ground handling and MRO services through the world's largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. Engine Repair & Overhaul/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. For more information, please visit www.bbaaviation.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTFFUFIDFWSEFF

(END) Dow Jones Newswires

November 14, 2017 02:00 ET (07:00 GMT)