AVATION PLC: UNAUDITED PRELIMARY FINANCIAL RESULTS FOR YEAR ENDED 30 JUNE 2013

Avation PLC (LSE: AVAP) the aircraft procurement and leasing company is pleased to announce its final results extracted from the unaudited financial statements for the Company and its subsidiaries for the year ended 30 June 2013.

Highlights:
Earnings per share increased by 88% to 23.25 US cents;
Fleet value increased to US$347 million;
EBITDA increased by 46% to US$38.3 million;
Revenue increased by 22% to US$42.7 million;
Dividends increased by 10% to 1.78 US cents per share;
Consolidated net profit after tax increased by 110% to US$10.5 million;
Delivery of six new ATR 72-600 aircraft, an Airbus A321 and an Airbus A320;
Number of aircraft in fleet increased to 23 from 15;

Jeff Chatfield, Chairman, said:
“This has been an excellent year for Avation with impressive financial and operational growth. I am delighted that we are able to announce results which are well ahead of market expectations. The outlook for the next calendar year looks very strong, with contracted fleet growth of 43 per cent already locked in, including the delivery of eight aircraft.”

Further information on Avation PLC can be seen at: www.avation.net Avation PLC is registered in England and Wales with an Operational Headquarters in Singapore.

It has been agreed that the current senior statutory auditor will continue for one additional year in addition to the recommended five. This is permitted under the ethical guidelines to safeguard the quality of the audit in certain circumstances.