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Date: Thursday 28 Aug 2008

LONDON (ShareCast) - Aircraft services company BBA reported a rise in underlying profits despite the impact of the economic slowdown on the airline industry and predicted a similar second half.

Revenues in the six months to June 30 climbed by 15% from the same period a year ago to £560.5m. However, BBA, whose services include refuelling, said 9% of this rise was due to the higher oil price. Of the remaining 6% of sales growth, 2% was organic.

Pre-tax profits fell to £46.7m from £61.2m, though this was due largely to the inclusion in the latter of £18.8m from the sale of a business.

On an underlying basis, pre-tax profits edged up to £43.8m from £43.4m.

“We now expect that our performance in the second half of 2008 will be broadly similar to the first half, assuming that there is no further adverse impact from the widespread economic slowdown,” chief executive Simon Pryce said.

BBA upped its interim dividend by 2% to 2.3p.

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