BBA Aviation revenue down 7%

BBA Aviation revenue down 7% - financial highlights for the 12 months ended 31-Dec-2009:

• Revenue: GBP1,081 million, -7% year-on-year;
  • Flight Support: GBP643.8 million, -9%;
  • Signature: GBP435.1 million, -26%;
  • ASIG: GBP208.7 million, +6%;
  • Aftermarket Services and Systems: GBP437.0 million, -3%;
  • Engine Repair and Overhaul: GBP334.4 million, -2%;
  • APPH Landing Gear and Hydraulics: GBP56.1 million, -18%;
• EBITDA: GBP139.3 million, -3%;
• Operating profit: GBP82.3 million, -21%;
• Profit before tax: GBP60.0 million, -29%. [more]

BBA Aviation: "We saw preliminary indications in the last quarter of 2009 that we are through the worst of the downturn in business and general aviation flying hours, as Signature returned to modest organic volume growth. This has continued in the first few weeks of 2010, although the nature and profile of the recovery remains unclear. Our Flight Support businesses will be the first to benefit from any sustained recovery in flight activity, but the improvement in our later-cycle Aftermarket businesses will take longer to be realised…we remain confident about the outlook, attractive secular growth prospects and consolidation opportunities in our major markets," Simon Pryce, CEO. Source: BBA Aviation, 25-Feb-2010.