Gama Aviation PLC (LON:GMAA) shares gained as it announced the resignation of non-executive chairman Sir Ralph Robins in the wake of issuing a profit warning.
The aircraft maintenance and management firm said Robins will remain in the role until a suitable replacement is found. Last month the company said annual profits would come in around US$3mln below its expectations after subdued recent trading across its divisions.
READ: Gama Aviation warns on full-year profit after weaker than expected trade across the board
The group said the “substantial growth” it had predicted at its interim results had not materialised and that trading in certain divisions has not improved sufficiently to deliver the full year expectations.
In morning trading, shares rose 7.9% to 153p.