Updates

Avation

March 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Avation has reported its H1 results to end December with five new aircraft added during the period (to take the total from 19 to 24). Sales were up 21% to US$24.5m and including US$1.65m from the sale of one aircraft, pretax profit went up 15% to US$7.89m (excluding that it was 5%). Eps were held back somewhat at 11.6 cents due to a higher 21% tax charge arising from deferred tax payments.The devil is in the detail. At the end of September, Avation was leasing 13 of its 24 aircraft to Virgin Australia's regional network. The company wouldn't confirm that Virgin was taking a small holiday on deliveries to March but the statement seems to flag more planes may be sold. But this is a temporary thing and plane sales throw up big profit ...

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