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Welcome to Gama Aviation

February 17 2018

RNS & Notifications

Results presentation

Click here to view our H1 2017 presentation

*Total Group revenue includes 100% of the results of Gama Aviation’s associate in the US and of its joint venture in Hong Kong.

Further information

Jefferies International
+44 (0) 207 029 8000
Simon Hardy or Harry Nicholas

Investor relations
+44 (0) 203757 4992
Ginny Pulbrook or Geoffrey Pelham-Lane

Aim Rule 26 disclosure

Gama Aviation Plc is incorporated in the UK and is subject to the UK City Code on Takeovers and Mergers. There are no restrictions on the transfer of its AIM securities. Shares in Gama Aviation Plc are not traded on any exchanges or trading platforms other than the AIM market.

The information contained within this section of the website has been disclosed for the purposes of AIM Rule 26.

Full year trading update

Gama Aviation reports continued progress in line with expectations

“We are pleased to affirm that our underlying earnings for the year ended 31 December 2017 have been delivered in line with our expectations whilst continuing to improve cash conversion. Both our Air and Ground divisions are performing well and we continue to invest across both divisions and all of our geographies in line with our strategy of becoming the market leader in business aviation services. We enter 2018 confident in the strength of the Company’s operations and its growth potential.”

Marwan Khalek, Group Chief Executive Officer.

For the full RNS please see RNS & Notifications

Trading update in brief

Trading for year ended 31 December 2017 (1)

Underlying earnings for the full year are in line with the Company’s expectations and consistent with the trading outlook provided at the time of the interim results published in September 2017.

The Company has continued the solid progress it made during the first half of the year in improving its cash conversion, resulting in cash and cash equivalents as at 31 December 2017 of US$22m (2016: US$11m). After funding the acquisition of 51% of Gama Group Mena FZC, which closed in October 2017, and securing a further US$2m of finance leases in July 2017 for the purchase of a support aircraft under the Scottish Air Ambulance contract, net debt was US$13m as at 31 December 2017 (2016: US$19m).

(1) This section of the announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014

For the full RNS please see RNS & Notifications

Share price perfomance data