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 £4.0m, which compares to £3.0m 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.
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.