StockMarketWire.com - Air Partner reported 'solid' first-half performance, with profit up 7%, despite a 'challenging' operating environment.

For the six months to 31 July 2019, statutory pre-tax profit rose 6.8% to £2.8m

The company attributed the results to its decision to diversify revenue stream and geography, with consulting & training compensating for slower trading in its group charter division, the company said.

Slower Charter trading, with gross profit down 14.4%, was offset somewhat by private jets and freight, with gross profit up 10.0% and 22.6% respectively, the company added.

The company declared an interim dividend of 1.80p, an increase of 0.05p, or 2.9%, on the prior year.

'We expect Air Partner to deliver profits in the second half of the year in line with the first half of the year and to meet market expectations,' the company said. 'The board remains confident in the future prospects for the business and is encouraged by the forward order book and pipeline of business opportunity for next year,' it added.


At 9:13am: [LON:AIR] Air Partner Plc share price was -8.4p at 83.1p



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