AIRCRAFT services group BBA Aviation posted a 17 per cent hike in half-year profits yesterday, with the group’s management team now eyeing future acquisition opportunities.
The British-based group, which divides its operations between services to private jet owners and flight support to the large commercial airlines, reported underlying pre-tax profits of £45.1m, a rise on the same six-month period last year when profits came to £38.4m.
Chief executive officer Simon Pryce told City A.M. that the group has seen eight consecutive months of growth.
BBA, which derives 80 per cent of revenue from North America, posted seven per cent income growth to £587.4m during the six-month period as the group reported a continual return in the private jet market.
“As we had anticipated, the markets have returned to growth. We see opportunity in future acquisitions,” said Pryce.
The company’s stock closed down 0.7 per cent at 202p.