Freight profit surge in 1H17 for Air Partner

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Charter broker Air Partner says its underlying freight profit for the first six months of the year to 31 July was up 88.6 per cent to £0.6 million ($800,000).

Overall gross profit for the first half of the year was up 12.2 per cent to £18.1 million from £16.1 million last year led by a strong performance in the broking division. Underlying profit before tax was £4.1 million, up a significant 34.4 per cent on the £3 million last year.

The UK company says among operating highlights in the six months were the renewing of a German automotive contract for a further three years and it remarketing completed work for Kenya Airways, China Airlines and was awarded exclusive contract to market 15 Boeing 777-200ER aircraft for Saudia Airlines.

Air Partner chief executive officer, Mark Briffa says: “I am very pleased to report on an encouraging first half performance with continued progress made as a Group. We are building the company for the long-term, and our strategic objective to create balance between our broking and consulting & training divisions is gaining traction.

“Our Customer First programme continues to be a key differentiator for us, and has played an important role in both customer retention and new business wins in the period under review.

“We continue to progress organic and acquisition opportunities that enable us to extend the services and capabilities we offer our global clients. We enter the next six months with optimism that our expectations for the full year will be met.”