Avation: Unaudited Preliminary Financial Results for the Year Ended 30 June 2014

Avation Plc (LSE: AVAP) the aircraft procurement and leasing company today announces its final results extracted from the unaudited consolidated financial statements for the Company and its subsidiaries for the year ended 30 June 2014.

Overview:

· Total income increased by 29 per cent to US$ 56.3 million (2013: US$ 43.7 million);
· Profit after tax attributable to equity holders increased by 30 per cent to US$ 13.7 million (2013: US$ 10.5 million);
· EBITDA increased by 29 per cent to US$ 49.4 million (2013: US$ 38.3 million);
· Earnings per share increased by 21 per cent to 28.13 US cents (2013: 23.25 US cents);
· Net assets increased by 13 per cent to US$ 111.3 million (2013 US$ 98.2 million);
· Cash held at the end of the period increased 19 per cent to US$ 23.4 million (2013: US$ 19.6 million);
· Dividends to increase by 13 per cent to 2.01 US cents per share (2013: 1.78 US cents per share);
· Number of aircraft in fleet increased to 25.

Jeff Chatfield, Chairman, said:

“Avation has delivered a strong financial result. The growth of Avation is set to accelerate in 2015 with an expected 44 per cent increase in the aircraft fleet by way of committed deliveries. Avation is scheduled to deliver eight new ATR 72 aircraft before the end of the 2015 financial year and an additional three ATR 72 aircraft in the second half of calendar year 2015. Furthermore, Avation is actively evaluating additional aircraft acquisition opportunities. We thank our shareholders for their continued support.”