LONDON (dpa-AFX) - BBA Aviation plc (BBA.L), a provider of aviation support and aftermarket services, reported Friday that its first-quarter trading performance remains in line with view, with a 23.1 percent rise in revenue, mainly driven by the acquisitions of EPIC, Firstmark and Ontic licences. On a like-for-like basis, revenue was up 1.1 percent.
In its trading update for the period January 1 to April 30, the company said Signature segment revenues grew 22.7 percent on a reported basis, and 0.4 percent on a like-for-like basis.
In Ontic, revenue increased 33.6 percent on a reported basis, while the growth on a like-for-like basis was 14.4 percent.
In Ontic, the company said it remain on track to deliver the $100 million EBITDA target by the end of 2021.
Further, the company reaffirmed its fiscal 2019 guidance previously provided on the impact of IFRS 16.
For the year, the company expects profit before tax and adjusted earnings per share to drop by 10 percent, while it expects operating profit to grow by about 12 percent and EBITDA to increase by about 30%.
BBA Aviation will publish its interim results for the half year ending June 30 on August 5.
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