Source - SMW
Gama Aviation posts adjusted pre-tax profits rose by 62.7% to $9.6m in the six months to the end of June. 

Total group revenues increased by 13.2% to $209.8m but adjusted earnings before interest, tax, depreciation and amortisation fell 8.5% to $7.5m and $8.0m on a constant currency basis (2015: US$8.0m), in line with 13 July trading update guidance of not less than $7.5m.

The group said  H1 2016 results benefited from geographic diversity; strong US performance offsetting weaker European market conditions.

Chief executive Marwan Khalek said: "The fundamental strength of our business, which is underpinned by contracted revenues and geographical diversity, together with the proven industry experience of our management team and the expertise and commitment of our staff, have ensured that once again we have delivered a solid performance, despite the challenging conditions that we continue to experience in our European market. This illustrates the resilience of our business model.

"Our growth strategy is on track.  Organic growth will continue apace through the expansion of services and geographies and we have a clearly defined path to continue our acquisitive growth in a highly fragmented global business aviation services sector.  Our strategic goal is to double the scale of the business over the next two  years." 

At 9:08am: (LON:GMAA) Gama Aviation Plc share price was -16.5p at 164p

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