Air Partner (AIP)

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440.25p
   
  • Change Today:
    -19.75p
  • 52 Week High: 620.00
  • 52 Week Low: 366.50
  • Currency: UK Pounds
  • Shares Issued: 10.26m
  • Volume: 6,878
  • Market Cap: £45.18m
  • RiskGrade: 207
  • Beta: 0.08

Air Partner downgrades profit targets

Date: Monday 30 Jan 2012

LONDON (ShareCast) - Aviation group Air Partner has admitted that group profit before tax for the six months ended January 31st 2012 will not meet the board's initial expectations.

The news is the result of the fact that revenues in the firm's largest division, Commercial Jet broking, have been below management estimates, as overcapacity has led to significantly greater levels of competition within the sector.

The news follows an update in early December in which Air Partner cautioned that revenues for the division were lower year-on-year, but in line with the board's expectations.

The Freight broking division was significantly ahead of last year, but below initial management forecasts. The same was true of the group's overheads.

Private Jet broking performance is on target, having benefited from existing high net worth clients continuing to travel and new business coming in from a growing number of individuals using private aviation to meet their global travel requirements.

The firm was keen to emphasise that Air Partner remains profitable, cash generative and debt free, saying: "The group's net cash position fluctuates according to the timing of flight payments received and made, but net cash is currently at the upper end of the range, at £13m."

Oriel Securities said in light of the update it has cut its full year pre-tax profit forecast by 11% to £4.0m from £4.5m, giving an earnings per share of 27.7p, while Peel Hunt cut its target price to 360p but retained its buy recommendation, based on underlying growth expectations.

The share price fell 5.12% to 291.75p by 15:12.

NR

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Air Partner Market Data

Currency UK Pounds
Share Price 440.25p
Change Today -19.75p
% Change -4.29 %
52 Week High 620.00
52 Week Low 366.50
Volume 6,878
Shares Issued 10.26m
Market Cap £45.18m
Beta 0.08
RiskGrade 207

Air Partner Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.15% below the market average7.15% below the market average7.15% below the market average7.15% below the market average7.15% below the market average
23.94% above the sector average23.94% above the sector average23.94% above the sector average23.94% above the sector average23.94% above the sector average
Price Trend
26.72% above the market average26.72% above the market average26.72% above the market average26.72% above the market average26.72% above the market average
22.08% above the sector average22.08% above the sector average22.08% above the sector average22.08% above the sector average22.08% above the sector average
Income
83.03% above the market average83.03% above the market average83.03% above the market average83.03% above the market average83.03% above the market average
64.00% above the sector average64.00% above the sector average64.00% above the sector average64.00% above the sector average64.00% above the sector average
Growth
86.72% below the market average86.72% below the market average86.72% below the market average86.72% below the market average86.72% below the market average
87.69% below the sector average87.69% below the sector average87.69% below the sector average87.69% below the sector average87.69% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Air Partner Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 14-May-14 02-Oct-13
Paid 16-Jun-14 25-Oct-13
Amount 14.00p 14.00p

Trades for 23-Jul-2014

Time Volume / Share Price
14:11 1,000 @ 455.00p
14:10 300 @ 455.75p
10:07 2,394 @ 460.25p
09:59 2,118 @ 469.06p
09:21 1,066 @ 469.00p

Air Partner Key Personnel

CEO Mark Briffa
CFO Neil Morris

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