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Air Partner

Companies: AIP   
20/04/2000

Shares in the air charter broker continue to climb on the back of good first half results. Pre-tax profits grew 7% to £907,000 on turnover which soared 31% to £32.4m. Profitability was adversely affected by reduced margins and sales at the German chartering division. However, this is expected to return to profitability in the second half. Air Partner added that the 'second half is traditionally the stronger of the two periods and current trading confirms the trend'. A new scheme offering to help multinational companies evacuate employees from trouble spots was announced, alongside a move into e-commerce. An interim dividend of 3.6p (3.5p) was declared, payable from EPS of 5.4p (5.8p).

Market cap: £24.15m
PE Average: 15.28
PE Forecast: 12.7
PE Historic: 11.89
Share price: 267.5p

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