BBA Aviation H1 pre-tax profits fly lower

BBA Aviation reported a 11% fall in interim pre-tax profits to $76.2m (£58.7m) citing higher exceptional charges.

Underlying profit rose 4.5% to $140.2m as revenue increased 14% to $1.02bn and the interim dividend was lifted 5% to 4 cents a share. Free cash inflow was $57.9m higher at $114.5m.

BBA said it was confident of “modest” growth in 2018, through “continued outperformance against a soft US business and general aviation market backdrop”.

It added that its legacy support business Ontic continued to have a strong pipeline of growth opportunities.

“We will continue to invest in our Signature network and remain focused on delivering continued US B&GA market outperformance in 2019 and beyond,” BBA said in a statement.