Plus   Neg

BBA Aviation Q1 Revenues Climb; Reaffirms FY19 Outlook - Quick Facts

BBA Aviation plc (BBA.L), a provider of aviation support and aftermarket services, reported Friday that its first-quarter trading performance remains in line with view, with a 23.1 percent rise in revenue, mainly driven by the acquisitions of EPIC, Firstmark and Ontic licences. On a like-for-like basis, revenue was up 1.1 percent.

In its trading update for the period January 1 to April 30, the company said Signature segment revenues grew 22.7 percent on a reported basis, and 0.4 percent on a like-for-like basis.

In Ontic, revenue increased 33.6 percent on a reported basis, while the growth on a like-for-like basis was 14.4 percent.

In Ontic, the company said it remain on track to deliver the $100 million EBITDA target by the end of 2021.

Further, the company reaffirmed its fiscal 2019 guidance previously provided on the impact of IFRS 16.

For the year, the company expects profit before tax and adjusted earnings per share to drop by 10 percent, while it expects operating profit to grow by about 12 percent and EBITDA to increase by about 30%.

BBA Aviation will publish its interim results for the half year ending June 30 on August 5.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Mountain Rose Herbs has recalled one lot of Fennel Seed Whole after the company found salmonella in part of its inventory. The Eugene, Oregon-based company has recalled all sizes ranging from 4 oz. to 50 lbs. of its Fennel Seed Whole, Lot #25031, because they have the potential to be contaminated... The U.S. Food and Drug Administration announced the suspension of the food facility registration of seafood producer Topway Enterprises Inc., also doing business as Kazy's Gourmet, following repeated food safety violations. From now, Topway will not be able to sell or distribute any food products. Huawei Technologies cut more than 600 jobs at its U.S.-based research and development subsidiary Futurewei Technologies, according to reports. The move comes after the Chinese telecom equipment giant was blacklisted by the U.S. in May this year. Huawei was quoted as saying said that the job cuts, effective July 22, were due to "curtailment of business operations caused by the U.S."
Follow RTT