2nd Jul 2020 11:41
Air Partner PLC - aviation services provider based in West Sussex - Says its business performed "significantly ahead of budget" in June, adding that it expects underlying pretax profit of at least GBP10.0 million for five months to June 30. For the six months to the end of July 2019, the company reported pretax profit of GBP2.8 million. Performance has been driven by strong activity in its Freight and Group Charter divisions. Highlights that early indications for July shows an adjustment to pre-Covid levels with a recovery in its Private Jets and Safety & Security divisions. As at the end of June, the company had cash of GBP16.0 million as well as access to GBP13.0 million revolving credit facility - of which 3.0 million has been drawn - and a GBP1.5 million overdraft.
Current stock price: 90.67 pence
Year-to-date change: down 9.6%
By Ife Taiwo; [email protected]
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