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Air Partner plc, said despite what it described as a challenging operating environment across the global aviation industry, “Air Partner’s first-half performance has been slightly stronger than expected.” The statement covered the six months ending July 31, 2019.
Stock analyst Liberum Capital restated its buy rating on shares of Air Partner (LON:AIR) in a research note published last Thursday, according to several reports.
Shares of Air Partner stock opened at GBX 89.40 ($1.17) on Thursday.
Air Partner has a 12 month low of GBX 71.40 ($0.93) and a 12 month high of GBX 129 ($1.69). The stock has a market cap of $46.39 million and a P/E ratio of 17.19. The company has a debt-to-equity ratio of 21.28, a current ratio of 1.06 and a quick ratio of 0.80, according to Liberum.
Global aviation services group Air Partner today provided a trading update for the year ended 31 January 2019. The company said its Charter division “performed well” with “strong performance in Freight and Commercial Jets.” Its private jet charter performance was flat although its JetCard jet card customer count grew by double digits.
In what Air Partner CEO Mark Briffa described as a “solid first half performance” the publicly traded seller of aviation services, including on-demand charter and jet cards said it earned a gross profit of £18.0 million, six-tenths of a percent below the same period in 2017. Underlying profit before tax of £4.2m, was a year-on-year increase of 2.4% while statutory profit before tax of £2.6m was £1.1m lower than the previous year driven by the associated costs of the company’s accounting review concluded earlier this year. In August, the company had offered its latest update.
Yesterday, Air Partner plc released a trading update for the six months ended 31 July 2018. It is in advance of a detailed report that will be provided with the interim results, which will be released on 27 September 2018. The Group enters its close period on 28 August 2018. The report is a positive viewpoint, following a recent buy rating, and particularly considering the difficult news over accounting woes from earlier this year. Below is the statement from Mark Briffa, the CEO:
