Date: Thursday 13 Oct 2011
LONDON (ShareCast) - Aviation group Air Partner posted a 93% surge in pre-tax profit and ramped up revenue 23% to £282m despite a difficult trading environment.
The group also confirmed that chairman Aubrey Adams intends to resign from his post once the search for his successor has been completed.
Commenting on trading Air Partner said the focus on core broking has delivered strong results.
Pre-tax profit rose to £5.3m for the year ended 31 July 2011 from £2.7m the year before.
However looking ahead Air Partner said it is cautious about its prospects for the current year, "given the severe economic uncertainty in major world markets and the lack of visibility which characterizes our industry."
"Nevertheless, the Board is confident in the long term growth prospects for Air Partner's key markets and believes that cautious investment in people and in new systems will promote sales and provide a firm basis for future success."
A final dividend of 11p has been recommended, bringing dividends for the period to 16.5p per share, up 10%.
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