Avation PLC reports sharp profit growth in 1H2013

Avation PLC revenue up 22% - financial highlights for six months ended 30-Jun-2013:

• Revenue: USD42.7 million, +22.1% year-on-year;
• Profit before tax: USD14.0 million, +73.0%;
• Net profit: USD10.5 million, +110%;
• Total assets: USD394.4 million;
• Cash and cash equivalents: USD19.6 million;
• Total liabilities: USD296.1 million. [more - original PR]

Avation PLC: "This has been an excellent year for Avation with impressive financial and operational growth. I am delighted that we are able to announce results which are well ahead of market expectations. The outlook for the next calendar year looks very strong, with contracted fleet growth of 43 per cent already locked in, including the delivery of eight aircraft," Jeff Chatfield, Chairman. Source: Company statement, 27-Aug-2013.