Air Partner plc ('Air Partner' or 'Group'), the global aviation services group, is today releasing a trading statement ahead of its scheduled update on 1st 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 £6.4m, which compares to £5.1m reported in the same period last year and ahead of market consensus of £5.9m. 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.
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.