("Avation" or "the Company")
As previously notified Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company expects to release its unaudited preliminary results for the year ending 30 June 2016 on 8 September 2016 with a conference call for investors scheduled for later that day.
The Company expects that the pre-tax profits will be above market expectations for the period. The unaudited lease revenues for the year are anticipated to be about 25% higher than for 2015, increasing to about US $71 million. Financial year 2016 second half profits are expected to be materially increased when compared with the first half of the year. For the year ending 30 June 2016 Pre Tax Profit is expected to be approximately US 18 million and associated earnings per share are anticipated to be about 32 cents per share. The increased profits are primarily due increased trading profits from the disposal of aircraft.
Avation's Executive Chairman, Jeff Chatfield commented that: "It is satisfying to announce a profit upgrade which represents high profit growth along with corresponding growth in revenue. The Company has been highly active in terms of aircraft acquisitions of new aircraft during the year. More commentary will be provided at the time of the results publication on 8 of September 2016."
More information on Avation can be seen at: www.avation.net
Jeff Chatfield, Executive Chairman
T: +65 6252 2077
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turboprop aircraft which it leases to commercial passenger airlines. The Company's customers include Vietjet, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Air India, Virgin Australia, Fiji Airways and UNI Air.
This information is provided by RNS