BBA fuels expansion with placing

BBA Aviation, which handles refuelling and ground handling at airports, is splashing out a total of nearly £45m on two acquisitions, financed via a share issue, that will take it into new aircraft markets and expand its geographic presence. BBA, which posted a 22 per cent rise in pre-tax profit to £95.4m yesterday, said that JP Morgan and RBS Hoare Govett placed shares worth 9.99 per cent of the total issued.