Air Partner Share Discussion Threads

[trident5] 03/4/2018 08:11

112/113 - seems an over-reaction.

RB - it's not cash related - they debited the balance sheet with debts they wouldn't collect, rather than expense them to the P&L.

Seems the big hit was back in 2011 and they probably mechanically followed the process thereafter and the auditors were asleep.

[steeplejack] 03/4/2018 08:10

It might be an overstatement of profits but it isn't cash related as such.They considered that they would receive the money in due course ie deferred income but it's not as if they accounted as if the cash had been received.

[robsy2] 03/4/2018 08:10

also no mention in their missive of how the shareholders might be impacted....
Very disappointed.r2

[robsy2] 03/4/2018 08:08

So they need to write off the 3.3 m through the p & l account, that smashes the last years profits... and casts doubt on the company. Absolute rubbish. Fictional accounts and these are just the provisional findings. 100p easily visible i’m afraid.
There are no excuses.
R2

[haroldthegreat] 03/4/2018 08:07

What exactly are auditors meant to do ? I thought they are meant to check the figures are correct? If so how do they miss that £3 million has not been accounted for correctly.
What are the share holders paying for when an audit is carried out.

[r ball] 03/4/2018 08:05

Of course it's cash related. They thought they had money coming in but now it's not. This is 6m profits and surprised if someone's not for th chop

[trident5] 03/4/2018 08:01

They've been overstating their profits - but most of this seems to relate to several years ago. Cash is not affected.
But says little of their accounting controls and processes - which one hopes are operating properly elsewhere.
The auditors are not covered in glory either - this is just the sort of thing they should have picked up.

[steeplejack] 03/4/2018 08:00

Well 120p might or may not be right but this accounting screw up largely relates to 2011 albeit it could,I assume,lead to an exceptional debit to be announced on April 26.With the market concerned about the World Cup,anticipation of good figures was a counter balance .
130p is my bet but of course,we face tip of iceberg mentality.These accountancy firms really beggar belief

[haroldthegreat] 03/4/2018 07:59

Repercussions of this error ?

[trident5] 03/4/2018 07:54

Spacedust - that seems about right, any lower - might be an opportunity

[spacedust] 03/4/2018 07:25

Back to 120p

[steeplejack] 03/4/2018 07:22

More to think about than the World Cup now.Seat belt time I suspect.

[steeplejack] 29/3/2018 10:38

"None of the 32 national teams competing will stay away from the tournament amid fears that a total boycott would only punish millions of football fans worldwide."It's the dignitaries that intend to stay away but I suppose that won't do AIR any favours.

[dontay] 28/3/2018 11:48

Government officials and various other 'hangers on' from Poland, Iceland, Denmark, Sweden, Australia and Japan are now said to be planning to boycott the tournament with more countries expected to follow suit. That may keep sentiment for air charter depressed for a while... but results day should boost it back to normal!

[dontay] 26/3/2018 15:10

Yer... but it's potentially a rather massive bonus! Wouldn't want it to go 'missing'.I suppose they could elect to pick the U.K. as an alternative venue! That'd be good for the sp! :)

[steeplejack] 26/3/2018 13:34

Yes,I agree,it's the World Cup uncertainty that is impacting sentiment but I really regard the World Cup as little more than a bonus in the larger scheme of things.

[dontay] 26/3/2018 13:11

IMO this is due to the market not liking uncertainty! I was rather expecting to see some weakness due to the politics surrounding the Russian situation. Any sign of the EU countries banding together against Russia leading up to the World Cup tournament could effect market sentiment for AIR... and it now does seem some countries are going to join in with a clear out of Russian 'diplomats'! If there is a perception this could also spill over into applying diplomatic pressure of some kind for a boycott of the tournament... it will effect market views on the knock on effects that might have on AIR's earnings in the short term. IMO this presents another great opportunity to add a few k's more leading up to results day!

[steeplejack] 26/3/2018 12:22

Seller in the wings suggested by price fall.Marketmakers are running very tight books in these uncertain times which adds to volatility.

[masurenguy] 20/3/2018 07:54

Nice addition although financially unquantified. However. this further comment was very encouraging too. "Training pipeline for the year ahead is strong, and we continue to examine new and existing opportunities across the division."

RNS Number : 2002I
Air Partner PLC
20 March 2018

Air Partner's SafeSkys Awarded Royal Air Force Contract in Scotland

SafeSkys, part of the Air Partner group, has been awarded the contract for provision of Airfield Wildlife Control Services for the Royal Air Force (RAF) in Scotland at RAF Lossiemouth, RLG Kinloss and RAF Leuchars. The three-year contract will commence 1 April 2018, with the option of a two-year extension. SafeSkys is a valued provider to the RAF, having supplied services at every one of its airfields in the UK. At present, it also holds contracts with RAF Brize Norton, RAF Benson and RAF Northolt in the Southern Region, and RAF Valley, RAF Mona and RAF Shawbury in the Western Region.

Mark Briffa, CEO at Air Partner, said: "SafeSkys has had a long and successful working relationship with the RAF for many years and we are delighted to secure this valuable contract and extend that relationship further. Our Consulting & Training pipeline for the year ahead is strong, and we continue to examine new and existing opportunities across the division. SafeSkys is already proving to be a valuable asset to the Air Partner group."

SafeSkys was acquired by Air Partner in September 2017 and sits within its Consulting & Training division. It is one of the global leaders in Wildlife Hazard Management & Wildlife Control Services, with experience and expertise built up over 24 years serving the needs of civil and military customers. SafeSkys' airport wildlife control services and standards are recognised by the UK CAA and are among the best in the world. The company delivers a range of services, including ICAO 13km Surveys and Wildlife Hazard Management Plans reports necessary for international airports to comply with regulations, and advice on preventative measures to control future bird strikes and other wildlife risks.

[dontay] 13/3/2018 14:04

Seemingly a rather delayed notifications but great to see Castlefield's Kieth Ashford- Lord still increasing his commitment to the Buffortology fund.

[dontay] 01/3/2018 10:03

Thinking about it... I suppose much depends on how far out their target date actually is. Air have continued the upward trajectory that was apparent before the share split and continued to fly high since last Jan when we were given five slices of the cake each worth 100p! They have, by any criteria or definition had an extremely successful time on all fronts since then and already seen over 150p achieved. There is little doubt they have/are also now going to be raking it in with a very large rake from a year with a couple of the biggest sporting events on the calendar in it... an approximate doubling of the share price from the current level during the next 9-12 months could be feasible. If it is a mistake then we should be getting a correction issued. But I'm now not so sure it is a mistake... it's not just the TP aspect... but the fact they have even bothered to issue another note so soon after last weeks! Maybe... just maybe... it was last weeks note that was the 'mistake'!

[masurenguy] 01/3/2018 08:38

I agree and also think that the Liberum figure must be a mistake. A target price of 200p would seem to be a much more realistic figure to me.

[dontay] 28/2/2018 19:07

Really strange but 300p is what it says. Surely has to be a mistake as it was only last Friday that this broker upgraded its PT from 150p to 165p.

[psync] 28/2/2018 16:27

Yikes, that's a huge target price upgrade by Liberum I'm seeing reported today. At 300p it makes me wonder if it's a mistake as a few years ago the share price was around that level prior to the 5 for 1 split!