Capital Lease Aviation pre-tax profits fall

4th Sep 2014 13:19

Britain-based Capital Lease Aviation saw its pre-tax profits for the year ended 30 June fall from $4.1m to $2.97m.Revenues from continuing operations rose 14% to $12.3m (£7.6m), while net assets increased by 5.6% to $47.6m and total liabilities fell by 13.6% to $45.4m."The Company has delivered growth in revenue and net assets. The Company concluded long term lease extensions for two key aircraft during the year that secure a long term future revenue stream," said group executive chairman Jeff Chatfield.The leases for two A321-200 airplanes were extended out to 2021. "The Company will now look to optimize the debt and capital structure in the short term with a view to enhancing profitability and providing a solid growth platform to support further additions to the fleet." Capital Lease shares were down 9.59% to 16.50p at 11:58 on Thursday.DC