logo-loader
viewAvation PLC

Avation makes good on forecasts as it hits record profit in first half

Avation PLC (LON:AVAP) has made good on its forecasts as it reported record profits and revenues for the first half of its financial year. Avation Finance Director Richard Wolanski tells Proactive London the numbers speak for themselves as total profit is up and earnings per share (EPS) also essentially doubled to US$0.21 from US$10.9, with an interim dividend of US$0.02 declared in light of the “robust” performance. Wolanski explains how profits were boosted by the sale of one of Avation’s Airbus A321-200 aircraft in October, for a price the group said was 10% above the planes book value. The record-setting revenues were pretty much in line with the company’s forecasts, having predicted around US$58mln in a February update. The aircraft leasing firm, which counts airlines like Thomas Cook and easyJet among its customers, reported a pre-tax profit for the six months ended 31 December of US$14.2mln, up 95% on a year ago, while revenues from its lease rentals jumped 40% to a record US$58.2mln.

Quick facts: Avation PLC

Price: 275 GBX

LSE:AVAP
Market: LSE
Market Cap: £172.73 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Avation PLC named herein, including the promotion by the Company of Avation PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Avation PLC soaring as it reports record revenue, profit and...

Avation PLC's (LON:AVAP) Richard Wolanski caught up with Proactive London's Andrew Scott following the release of the aircraft leasing company's full year results to June 2019. The firm achieved both record revenues and profits and investors were rewarded with a bumper dividend pay-out too.

on 11/9/19

RNS

Result of AGM

1 day, 12 hours ago

AGM Statement

1 day, 15 hours ago

NOTICE OF AGM

3 weeks, 2 days ago

Holding(s) in Company

on 22/10/19

Holding(s) in Company

on 22/10/19

2 min read