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BBA Aviation revenues up 9.7%; sees FY in line
BBA Aviation said its trading performance in the first quarter of 2018 remained in line with expectations, with revenue for the period up 9.7% year-on year, adding it expected to meet full year expectations.
On a like-for-like basis, at constant currency, adjusting for fuel prices and before acquisitions, revenue was up 2.9%.
Signature revenues grew 13.9% and on a like-for-like basis were up 5.5%.
"Our market outperformance reflects the momentum from the commercial negotiations concluded around the middle of 2017; this outperformance, compared to US business and general aviation (B&GA) market movements, is expected to moderate as comparatives strengthen in the second half," BBA said.
"The US B&GA market was weaker than expected during the first quarter as weather impacted flight movements, particularly in January and March."
In aftermarket services, revenue declined 0.5% and on a like-for-like basis was down 3.8%.