BBA Aviation reveals 'marginally softer' Q3

14th Nov 2013 09:10

BBA Aviation disappointed on Thursday after admitting business and general aviation (B&GA) movements in Europe and commercial movements in both North America and Europe all declined by one per cent in the third quarter and for the year were marginally worse than anticipated. As such, the global aviation support and aftermarket services provider said that trading in the third quarter was "marginally softer" than expected, but said the fourth quarter was off to a decent start. BBA Aviation's major market performed broadly as expected and for the year to September 30th North American B&GA movements increased by 1% with modest growth of 3% in the third quarter. Group revenue increased by 2% over the same period in 2012; revenue in Flight Support grew by 2%, Signature continued to outperform its markets, and Aftermarket Services increased by 1%. Decent performances were also seen in ASIG, Legacy Support and APPH, the group added. Simon Pryce, BBA Aviation Chief Executive said: "Whilst month-on-month performance remains volatile we have seen an encouraging trend of growth, albeit modest, in the North American B&GA market in the last six months. European B&GA movements remain weak. With limited short-term visibility and against a background of fragile confidence, we remain cautious in our near-term planning assumptions. "Whilst trading in the third quarter was marginally softer than expected, we have started the fourth quarter well and continue to anticipate making good progress in 2013." NR