Gama Aviation reports flat H1 performance but leaves full year outlook unchanged

Writer, Stock Market Wire
Thursday, July 19, 2018 - 09:45

Aviation services provider Gama Aviation Thursday left its full-year expectations intact after reporting flat performance during the first-half of the year.

The group blamed flat performance on 'challenging' trading conditions in Europe but this was offset somewhat by strong growth in the US.

The US air division continued to deliver strong organic growth enhanced by ongoing development of the 'Wheels Up' contract, the company said.

The EU ground division performance was somewhat mixed with growth weighted toward the second half after contract wins in base maintenance and design were secured in the first half.

The US ground division delivered strong organic growth during the period amid increased demand from the company's line maintenance centres.

In the Middle East, however, the ground division had a weak start to the year affected by regional events.

'The Group remains on track to deploy the proceeds of the recent equity placing and deliver on its strategic growth plan for 2018,' the company said.

'With strong growth in the US, steady and encouraging progress in scaling up our Middle East and Asia operations and stable trading in the EU market, supplemented by new business wins in the EU Ground division, the Group's expectations for the full year remain unchanged,' it added.

At 9:45am: (LON:GMAA) Gama Aviation Plc share price was -3.5p at 196.5p


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