Updates

Avation

September 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.

Results from Avation show pretax profit up 24% to US$17.3m on total income up 30% to US$56.3m. Eps came in at 17.3p up from 14.5p.A year ago, Avation had anticipated delivering eight planes in FY14 but as it was, key customer Virgin Australia took a holiday on calling these off and only two were delivered. But demand for ATR72 aircraft is so great that Avation ended up selling two of the others it had on order, booking a US$3.6m profit. Offsetting this gain was a reduced profit from CLA, a 69%-owned subsidiary (US$1.2m lower at US$2.8m), which focusses on leasing planes outside Australia (Australia is Avation's remit- hence the separation).Speaking to finance director Richard Wolanski, growth looks set to move up a no ...

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