Business
Interim Management Statement & Trading Update
Interim Management Statement & Trading Update.
About this update from Avation Plc
[{"type":"text","content":"\n \nRNS Number : 3083J Avation PLC 11 June 2014 \n \n\nRNS: AVAP \n11 June 2014\n \nAVATION PLC\n(the \"Company\")\n \nInterim Management Statement & Trading Update\n \nStrong revenue and earnings growth as aircraft fleet increases\n \nAvation PLC, (LSE: AVAP) the aircraft leasing company, today provides an interim management statement and trading update for the financial year ending 30 June 2014. \n \nHighlights include: \n \n• Net revenues in the year to date are on track to exceed published market expectations for the year ending 30 June 2014;\n \n• As at the date of this publication, net revenue is expected to rise by 29 per cent compared to the prior year to around USD 55 million (2013: USD 42.7 million). This visibility is due to the Company being a commercial aircraft operating lessor with known and constant levels of lease revenue income;\n \n• Profit before tax is expected to increase 25 per cent over the previous year to around USD 17.5 million (2013: USD 14.0 million);\n \n• Earnings per share are expected to increase by 25 per cent to 29 US cents (2013: 23.25 US cents per share);\n \n• Avation's overall fleet now stands at 25 commercial passenger aircraft;\n \n• Six additional aircraft are on order for delivery by the end of calendar year 2014; and\n \n• Current contracted fleet growth is 44 per cent by the end of calendar year 2015, increasing the fleet size to around 36 aircraft.\n \nJeff Chatfield, Executive Chairman said: \"With one month left in this financial year we expect to report strong growth in group revenues and profits. We are e...