- Gama Aviation left its full-year expectations unchanged Monday despite reporting profits more than halved as strong revenue growth in its US Ground division and Air associate were weighed down by more 'challenging' trading in Europe.

For the six months to 30 June 2018, reported pre-tax profits before tax fell to $3.2m, from $8.7m a year ago, and revenue fell to $104.6m from $108.1m a year earlier.

The fall in profits was blamed on weaker performance from its European ground division, which delivered flat performance.

Earnings (EBITDA) was reported at $8.1m for the half year, down from $8.4m a year earlier. The group said it expectations for the full year remained unchanged as market conditions in Europe remained challenging but stable as new business wins were expected in Europe ground in the second half of the year.

'The first half of the year has been a busy period with the equity placing and refinancing completed, and progress across our operations. We continue to scale up across all geographies and service lines and develop our pipeline of value enhancing acquisitions. We remain confident in delivering our future growth plans and strategic objectives,' said Marwan Khalek, Chief Executive of Gama Aviation. At 8:01am: [LON:GAMA] Gamma Communications Plc share price was -6p at 852p

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