Highlights
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* Sales
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up 32% to £185.8m (£140.4m)
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* Profit before tax
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up 49% to £7.6m (£5.1m)
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* Diluted EPS
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up 46% to 50.3p (34.4p)
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* Proposed final dividend
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up 10% to 13.3p (12.1p)
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* Net Cash
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up 64% to £19.5m (£11.9m)
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* Proposed Special dividend
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60p per share, equal to £6 million (5th in 12 years)
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* 38% increase in new clients
* Strategy to diversify revenue performing well – all sectors and geographies extremely buoyant
* UK, Germany and Italy show strongest growth. France and USA remain significant contributors
* Investment in market for high net worth (“HNW”) jet usage producing good results
* Platform for growth strengthened by new operational boards
* Two new offices opened in Sweden and Benelux
* Over 10 years TSR has grown by an average of 30% per annum
* Current trading is strong and 15% ahead of the comparative period
* Shift to private aviation set to continue
David Savile, Chief Executive of Air Partner commented: “These record results demonstrate the Group’s ability to provide outstanding service and client satisfaction over the long term. I am delighted to be announcing the group’s 13th consecutive 10% increase in dividend and our fifth special dividend in 12 years. Over the last 12 months Air Partner has grown its business by geography, clients and products, and invested to produce a stronger platform from which we can win further market share in the rapidly growing private aviation market.”
