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Trading statements

BBA Aviation in line with expectations

05 May 2017 07:36

BBA Aviation said trading for the period from the start of January to the end of April was in line with expectations, with revenue up 19% year-on-year.

The group said it benefited from an additional month of contribution from the Landmark Aviation acquisition, which completed on 5 February 2016, as well the contribution from the other FBOs added to the network during the course of 2016.

It said growth in the North American B&GA market had shown signs of strengthening with flight movements up 4% in the first two months of the year (corresponding period last year: 0%).

The group said that on an organic basis Signature's revenues grew 3%.

It said Signature's strong drop through continued to demonstrate market outperformance.

Group chief executive Simon Pryce said: "The group is performing well and in line with expectations with a continued strong performance from the enlarged Signature business and strong drop through.

"There has been an improvement in B&GA flight volumes reflecting the continued strengthening of the US business confidence indices.

"Our Ontic business continues to deliver good results and ERO's performance improved as anticipated versus the same period in 2016.

"The group is now focused on higher value-added, better IP protected, high ROIC and strongly cash generative businesses with enhanced prospects and the board remains confident of good growth in 2017."

Story provided by StockMarketWire.com

Related Company: BBA

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