BBA Aviation reports flat first-half profit

5th Aug 2014 10:03

Aviation support and aftermarket services firm BBA Aviation reported just a 1% year-on-year increase in first-half profit before tax to $79.2m, on the back of a 3% increase in revenue to $1.15bn.BBA said results were boosted by market outperformance and progress in flight support, the company's segment which provides refuelling and ground handling.However, it was offest by weaker aftermarket services, the segment which maintains, manufactures and supports engines.In February the London-listed company completed the sale of its APPH entities, which are part of the aftermarket services division, to Heroux-Devtek. The company's disposal of APPH reduced revenue by $37.3m, while lower fuel prices reduced reported revenue by a further $3.5m.These were, however, balanced by a $31.4m revenue contribution from acquisitions and a $16.1m increase from foreign exchange movements.BBA said US business and general aviation market was up 4%, while European business and general aviation movements were down 1% and commercial aircrafts movements were down 2% in North America and 1% in Europe.BBA shares fell 1.5% to 308p by 09:59 on Tuesday.DC