BBA Aviation (LON:BBA) swung into profit in 2017, driven by an improved performance in both flight support and aftermarket services.
The group recorded a pretax profit of $175.5 million in 2017, after an $82.2 million loss last year, with underlying operating profit rising 19 percent to $360.6 million. Flight support underlying profit grew 12 percent to $329.4 million, with aftermarket services underlying operating profit grew 55 percent to $65.3 million.
Wayne Edmunds, BBA Aviation Interim Chief Executive Officer, said 2017 was another “successful year for BBA Aviation”
“The Group is focused on higher value-added, better IP protected, high ROIC and strongly cash generative businesses with encouraging prospects and the Board remains confident of good growth in 2018 with a good pipeline of further investment opportunities,” he said.
Shares in BBA (LON:BBA) are currently down 0.99 percent at 341.40 (0902GMT).