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Air Partner

Companies: AIP   
06/09/2002

Air Partner flew 12.5p higher to 317.5p after the world's largest corporate air charter broker said full-year figures to July would top City expectations by 10%. The group will unveil its results on 10 October. Managing director David Savile says: 'In some areas of activity we've simply outgrown any downturn in the industry - in others we've seen continued growth. We now expect a substantial increase in our profit for the year, ahead of current City expectations.' House broker Evolution Beeson Gregory previously predicted £3.2m pre-tax, giving earnings of 21.3p. Last time out the group posted £2.2m pre-tax profits on sales of £89.2m. At the interim stage the company delivered robust figures, making £1.6m pre-tax - a 28% improvement - on lower sales of £44.8m (£46.3m). EPS leapt 54% to 10.8p. These results were achieved against the most challenging market conditions ever seen in the industry following 11 September.

Market cap: £29.2m
PE Forecast: n/a
Share price: 323p

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