April 23 - Air Partner's results announcement for the year ended January 31, 2015, reveals a fall in revenue and profits for the global aviation charter specialist.
Revenue of GBP192.1 million (USD288.0 million) was down from GBP211.5 million (USD318.19 million) in the previous financial year, with underlying profit before tax also down 35.6 percent on the prior year, falling from GBP4.1 million (USD6.15 million) to GBP2.6 million (USD3.9 million).
Mark Briffa, ceo of Air Partner, commented: "This has proved to be a year of two very different halves, as reflected in the disappointing half-year results, which were lower than expected as a result of fewer material one-off contracts in our Commercial Jet division. However, the second half of the year delivered better results than anticipated helping us achieve a full year result ahead of revised expectation"
In an official statement, Air Partner said that its Freight division has seen year-on-year revenue and gross profit growth, reflecting new business wins generated by the investment made in skilled recruits.
Briffa added: "Our ability to attract and retain experienced sales people from competitors has certainly contributed to the strong results, with the division reporting a 105.4 percent increase in revenue to GBP24.1 million (USD36.14 million) [2014: GBP11.7 million (USD17.55 million)]. This led to a significant improvement in underlying operating profit from a loss of GBP0.1 million (USD0.15 million) in 2014 to a profit of GBP0.4 million (USD0.6 million).