News blog

Hangar 8

  • BY: Andrew Hore |
  • POSTED: 24/07/2012 |

Passenger jet manager and operator Hangar 8 says that its increasingly international spread of operations has offset weakness in Europe and there are organic and geographic growth opportunities.

Maintenance operations in Oxford have been expanded and new facilities opened in Lagos Nigeria, Pointe Noir Congo and Almaty Kazakhstan. A new maintenance site will shortly be opened in Abuja Nigeria.

Revenues were 10% higher at £20m in the year to June 2012. There was cash in the bank of £1.1m at the end of the period.

During the past year, Hangar 8 has operating bases in Malta, Kazakhstan, Congo and Nigeria.

At 89p a share, Hangar 8 is valued at £5.74m. Non-executive director George Rolls has acquired 16,666 shares at 89p each. Hangar 8 raised £2m at 150p a share in November 2010.

Seymour Pierce has replaced Daniel Stewart as nominated adviser and broker.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2012_34.pdf

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