News blog

Hangar8

  • BY: Andrew Hore |
  • POSTED: 14/11/2012 |

Private jet operator and manager Hangar8 has made a strong start to the present financial year with EBITDA more than quadrupling in the first three months. 

In the three months to September 2012, EBITDA has jumped from £107,000 to £461,000 and Hangar8 is on course for a better than expected full year outcome. Management believes that the increased scale of the business is paying off.

The share price jumped 34.5p to 176p, which values Hangar8 at £11.4m.

The full year figures for the year to June 2012 will be published on 28 November. Turnover of £20m is expected and the profit should be in line with expectations.

New operating bases have been opened in Malta, Kazakhstan, Congo and Nigeria. More recently Hangar8 struck an agreement with Jersey Airport in relation to the construction of a new 55,000 square feet hangar, which will handle and maintain aeroplanes. The facility should be in operation in 2014.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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