Gama Aviation in line with expectations

Gama Aviation says total group revenues for the year to the end of December, on a constant currency basis, increased by over 10% compared with 2015.

This growth was primarily organic and based on a strong overall performance, especially in the second half of the year, with aircraft under management up 12% to 165 (2015: 147).

Adjusted earnings, which exclude exceptional items and amortisation, on a constant currency basis, are in line with market expectations.

Earnings also exclude a material foreign exchange credit, which resulted from the unusually volatile currency fluctuations during the year.

The full year results will be reported at the annual average exchange rate of 1.35 US dollar to the pound sterling.

At 1:19pm: (LON:GMAA) Gama Aviation Plc share price was +13.5p at 167.5p