Gama Aviation (LSE:GMAA) shares flew almost 7% higher to 54.44p after it reported stronger profits and cashflow following the significant growth and improved profitability from Jet East, its US business aviation maintenance and repair operations.
Underlying group profit (EBITDA) jumped 94% to US$22.9mln as revenue rose 21% to US$285.6mln.
Chief executive Marwan Khalek said the results "showed the continued improvement that the group is making in revenue and EBITDA performance in its core markets".
He noted the "transformative effect" of Jet East and the focus placed on the special mission sector that "will deliver future financial performance through the capture of attractive multi-year contracts".
But he said the industry is likely to face "an increasingly challenging environment".