BBA Aviation Plc (LON:BBA) told investors that in the four month period ended 30 April its trading performance is in line with expectations.
Revenue from continuing operations marked a 23.1% improvement year-on-year, driven by both organic and acquisition based growth. On a like-for-like basis, meanwhile, the group’s revenue increased 1.1% for the period.
READ: BBA Aviation results boosted by acquisitions
"We are pleased with the initial progress made as we advance our strategic growth initiatives in both Signature, particularly in non-fuel, and in Ontic, where we delivered strong organic growth,” said Mark Johnstone, BBA chief executive.
“The continuing group is focused on high ROIC and strongly cash generative market-leading businesses and the outlook for the full year remains unchanged."
The group’s Signature business unit was boosted by the previously completed EPIC acquisition, with revenue up 22.7% but 0.4% on a like-for-like basis. It highlighted that the business outperformed the sector in the United States, by 90 basis points, and the company is continuing strategies that aim to growth that outperformance to 250 basis points.
BBA’s engineering unit, Ontic, saw a 33% increase in revenue and on a like-for-like basis growth was also strong, rising 14.4%. The company highlighted a strong order book and a pipeline of future opportunities.
Its discontinued business, ERO, performed in line with expectations.