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http://www.investegate.co.uk/Article.aspx?id=201201040700109402U
Simon Pryce, BBA Aviation Chief Executive Officer, commented: "In an active and successful first half, BBA Aviation performed strongly as our markets improved. Good organic revenue growth and strong operating discipline resulted in enhanced profitability in both divisions and an improving trend in the Group's return on invested capital. We have significantly improved the Group's financing structure to support the accelerated execution of our strategy and have made five acquisitions so far this year with a strong pipeline of further opportunities in our fragmented markets. Notwithstanding global economic uncertainty, we continue to expect to build on the strong results delivered in the first half with positive underlying progress for the remainder of the year. Over the longer term, the strengths of our business and our organic growth and consolidation opportunities, together with on-going operational improvement, mean that we expect to continue to deliver a strong performance and to generate superior returns."
Operational highlights Flight Support (62% of Group EBIT) · Signature continued to build on improved market conditions; further network enhancement with the acquisition of four FBOs · Further contract wins in ASIG; award of ground handling licence at Changi Airport, Singapore Aftermarket Services and Systems (38% of Group EBIT) · Expected improvement in overhaul activity in ERO delivered; expansion of field service offering and international footprint · Legacy Support's integration of GE Aviation Systems' legacy fuel measurement business proceeding according to plan · APPH focused on further operational improvement Continued strategic progress · Successful renewal of bank facilities and issue of US private placement notes providing a stable, long-term and diversified funding structure to support the growth strategy · £86m net proceeds from equity raising to fund continuing expansion · Five acquisitions in Signature and Legacy Support with annualised revenues of c. $60m
Financial highlights · Continued steady market improvement and share gains supporting organic revenue growth of 6% · Underlying operating profit up 17% on a constant currency basis to £60.0m · Adjusted earnings per share of 9.0p up 11% on a constant currency basis · Free cash flow impacted by timing difference, expected to normalise by year-end · Group return on invested capital increased by 60bps to 10.1% · Interim dividend increased by 5% to 2.52p
http://www.investegate.co.uk/Article.aspx?id=201108050700158010L
Completion of the acquisition of GE Aviation Systems' legacy fuel measurement business BBA Aviation plc, the leading global aviation support and aftermarket services provider, announces that it has completed its acquisition of GE Aviation Systems' legacy fuel measurement business (the "Business"), having received the necessary approvals. The acquisition was announced on 2 March 2011. The acquisition was made via BBA Aviation's Legacy Support business, part of the Aftermarket Services and Systems division. The acquisition price, as previously announced, is a cash consideration of $62.5m on a cash and debt free basis, in addition to a further investment of approximately $7.0m in working capital and fixed assets.
http://www.investegate.co.uk/Article.aspx?id=201105061550371376G
BAA puts aside £50m to cope with snow By Benjamin Chiou Date: Thursday 24 Mar 2011 LONDON (ShareCast) - Airport operator BAA is to invest £50m to avoid a repeat of the weather-related chaos seen at Heathrow this winter. The move comes in response to the ‘Heathrow Winter Resilience Enquiry’ headed by BAA non-executive director David Begg, following the worst winter in 100 years that crippled the major airport for almost an entire week in mid-December. “Passengers were unable to travel at an important time of the year; over 4,000 flights were cancelled, causing significant impact to airline schedules globally; and Heathrow Airport's reputation was damaged,” Begg said. The enquiry listed a total of 14 recommendations to improve the preparation, planning and control of the airport if the UK was to encounter these severe weather conditions again. The suggestions include greater collaboration in snow preparation, strengthening BAA’s crisis management process and providing better communication with passengers. “The panel concludes that BAA and the airlines need to work closely together to ensure that changes in airport status can be quickly and accurately communicated to passengers in order to establish a single and authoritative source of information available globally on the status of Heathrow and its airlines,” the report said. BBA’s chief executive Colin Matthews responded: "Following December’s disruption, we invested in new equipment, people and training to enable us to respond better to snow in future. We are now putting together a comprehensive action plan to implement all 14 Begg recommendations.” The group has also secured agreement from the heads of British Airways, Virgin Atlantic, NATS and the CAA, to establish a Heathrow partnership for passengers “to make every passenger’s journey better than the last one,” Matthews said. “Heathrow is among the most congested airports in the world and the lack of spare capacity means that unlike every other British or European airport, we have literally no room to move when disruption occurs,” Matthews explained. BAA manages six UK airports, including Heathrow, Stansted and Glasgow.
BBA AVIATION PLC ("BBA Aviation" or the "Company") BBA AVIATION ANNOUNCES A PROPOSED PLACING OF UP TO 9.99 PER CENT. OF ITS EXISTING ISSUED ORDINARY SHARE CAPITAL BBA Aviation today announces its intention to conduct a non-pre-emptive placing of up to 43.2 million new ordinary shares in the Company (the "Placing Shares") representing up to approximately 9.99 per cent. of the Company's existing issued ordinary share capital (the "Placing"). The Placing is being conducted through an accelerated book-building process to be carried out by J.P. Morgan Securities Ltd., which conducts its UK investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), and RBS Hoare Govett Limited ("RBS Hoare Govett") who are acting as joint lead managers and joint bookrunners (together the "Bookrunners"). The Company has also announced today that it has agreed to acquire GE Aviation Systems' fuel measurement business (the "Legacy Acquisition") for a cash consideration of $62.5m on a cash and debt free basis (the "Acquisition Announcement"), and that it has acquired a business and general aviation fixed-based operation at Bozeman, Montana from Yellowstone Jet Centre LLC for cash consideration of $10.5m (the "FBO Acquisition" and, together with the Legacy Acquisition, the "Acquisitions") . In addition to the purchase price for the Legacy Acquisition, BBA Aviation will make a further investment of approximately $7.0m in working capital and fixed assets. The Company has also published, in a separate announcement, its financial results for the year ended 31 December 2010 (the "Results Announcement").
BROKER CALL: Is BBA ready to fly? 12 May, 2010 09:55:26 AM Apparently it is, according to Royal Bank of Scotland, which has raised its price target to 270p a share from 175p. Broker tells us: 'BBA's core businesses are US focused and cyclical. The macro outlook and early industry data appear to support the prospects for recovery. Following significant cuts within the group's cost base through the downturn, we believe there is scope to recover profits beyond historical levels, in the best case outcome.'
"When SP is in the toilet, any divi will look like a good yield." ...and when the major indices are in the toilet, you should use toilet paper as an investment tool! If placed in the right hand, it can be effective for cleaning up on a bottom.
When SP is in the toilet, any divi will look like a good yield.
with a 5.3p divi per share announced that's quite a good yield isn't it?
This happens on a regular basis with this share and takes 15 mins to settle down,during which the spread is unusually wide.Several times I have been attracted to sell during this spike but dismayed at the sell price. I too do not know why.
the sp topped out at £1.07p and then nose dived 20 odd% why o why
crazy
?????????
bba r FLYING , wos the news
Since the demerger of Fiberweb from this group, both companies have seen SP suffer. Looking back was demerger such a good idea? McGlone & Quarta made a mess of this basket......
Is there any new word on YE results after Signature expansion?
does anybody have an opinion on this?
Despite finding the following statements: LONDON (Thomson Financial) - BBA Aviation PLC said it has acquired Regent Aviation based in St Paul, Minnesota for 50 mln usd expanding its Signature network in the US. And BBA Aviation plc today announces the acquisition of additional locations for its Signature network in the USA together with significant new contract wins in ASIG and Ontic. So BBA buy regent aviation and win new contracts surely this will rise next week
whispers suggest this could be a private equity buyout target