BBA Aviation PLC Trading Statement (3541W)
November 14 2017 - 1:00AM
UK Regulatory
TIDMBBA
RNS Number : 3541W
BBA Aviation PLC
14 November 2017
14 November 2017
Trading update
BBA Aviation ("the Group"), a market-leading provider of global
aviation support and aftermarket services, is pleased to announce a
trading update for the period 1 January to 31 October 2017.
The Group's trading performance remains in line with
expectations, with revenue up 10.2% year-on year for the ten months
to October, reflecting good organic growth in Signature and the
contribution from acquisitions.
In Flight Support, Signature revenues in the ten months to 31
October grew 14.2% and on a like-for-like basis (organic, constant
currency, adjusting for higher fuel prices) were up 3.8%. US
B&GA flight movements have grown 3.7% over the nine months to
30 September, with improved growth of 4.3% for the three months
ended 30 September. Signature like-for-like revenue growth for the
same three month period ended 30 September was 5.3%. The Signature
outperformance during the three months ended 30 September in part
reflects good progress with our commercial renegotiations for the
enlarged network.
The recent hurricanes: Harvey, Irma and Maria, caused minimal
impact overall across the Signature network and we were able to
re-establish services quickly and provide support for the rescue
and relief efforts.
Signature has recently signed a Signature Select licence
agreement with Fly Across at Toluca International airport in
Mexico, our first location in Mexico and the closest B&GA
airport to Mexico City. This increases the Group's affiliate FBO
programme, Signature Select, to 19 locations.
In Aftermarket Services, revenue in the ten months to 31 October
grew 1.8% but on a like-for-like basis declined 2.8%. Like-for-like
revenue growth at Ontic was more than offset by declining revenues
in ERO. Ontic which generates the majority of the Aftermarket
Services underlying operating profit has performed well with a good
contribution from the GE licences acquired at the end of 2016 and
continues to see a strong pipeline of future growth
opportunities.
Wayne Edmunds, BBA Aviation Interim CEO commented "The Group has
traded in line with expectations during the period. We are
particularly pleased with Signature's performance since the half
year, which in part reflects the positive customer response to our
enlarged network proposition. The outlook for the full year remains
unchanged."
Notes:
The Group will publish its preliminary results for the year
ending 31 December 2017 on 1 March 2018.
Enquiries:
BBA Aviation plc
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
(020) 7514 3999
Tulchan Communications
David Allchurch
(020) 7353 4200
Information on BBA Aviation plc
BBA Aviation plc is a market leading, global aviation support
and aftermarket services provider, primarily focused on servicing
the Business and General Aviation (B&GA) market. We support our
customers through three principal businesses: Signature Flight
Support and Signature TECHNICAir(TM) which provide premium, full
service flight and home base support including refuelling, ground
handling and MRO services through the world's largest fixed base
operation (FBO) network for B&GA users with around 200
locations covering key destinations in North America, Europe, South
America, Caribbean, Africa and Asia. Ontic is a leading provider of
high-quality equipment and cost-effective solutions for the
continuing support of maturing and legacy aerospace platforms with
locations in the USA, Europe and Asia. Engine Repair &
Overhaul/Global Engine Services is a leading independent engine
service provider to global B&GA operators, the rotorcraft
market and regional airline fleets with locations in the USA,
Europe, South America, Asia and the Middle East. For more
information, please visit www.bbaaviation.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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