Companies: AIP   

This air charter broker achieved solid growth in its full year figures for the year ended 31 July, but pre-tax profits were pegged back by development costs. Turnover lifted by 16% to £73.8m with profits at the pre-tax line reduced to £2.67m (£2.78m) due to £670,000 of investment in new initiatives and expansion. Charter sales increased in all divisions except Germany with a particularly strong performance arising in the US, where sales rose by 67%. As well as opening new offices in New York, Vienna and Zurich, significant investment was directed into two new ventures which are expected to 'produce quality revenue and profits in the longer term'. Air Partner On-Line!, an airline internet trading post, is currently in a free trial period with over 90 airlines signed up. Rapid Air Support, an overseas employee evacuation service which chairman Tony Mack describes as 'a peace of mind programme', has six 'household name' clients already signed up. An exuberant Mack pinpointed Italy, Spain, Scandinavia and the Lowlands as possible areas for expansion and stated that 'current trading has started very well'.