11th Jun 2014 10:56
LONDON (Alliance News) - Aircraft leasing company Avation PLC Wednesday gave a bullish outlook for its revenue and pretax profit growth in the year ending June 30, and expressed confidence for 2015.
The company expects net revenues to exceed market expectations, rising 29% to around USD55 million compared to USD42.7 million. Pretax profit is expected to increase 25% to USD17.5 million compared to USD14.0 million, and earnings per share to rise the same amount to 29 cents from 23.25 cents.
Avation's fleet is currently 25 commercial passenger aircraft, it said, with six further aircraft on order for delivery by the end of 2014. Its current contracted fleet growth is 44% by the end of 2015, to around 36 aircraft.
The company said it was focused on continuing to grow its fleet and broadening its customer base.
"We look forward to 2015 with confidence as we enter an 18 month period in which growth in aircraft fleet will be at the highest level in the group's history," Executive Chairman Jeff Chatfield said in a statement.
Avation's full-year results will be announced on or around August 20.
Shares in Avation were trading up 5.5% at 130.80 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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