BBA Aviation performs in line

Aircraft services group BBA Aviation said despite very challenging trading conditions, it performed in line with expectations and strongly when compared to its markets.Even so, pre-tax profits still slumped 45% to £25.8m on revenues that fell to £550.2m from £560.5m before, impacted by significantly lower fuel prices but benefited from the translation impact of the higher average US dollar exchange rate. Excluding the impact of exchange rates, fuel prices and acquisitions and disposals, the organic revenue reduction was 13%. The group said both Signature and ASIG outperformed against their markets, Legacy Support continues to grow strongly overall, and in Engine Repair and Overhaul and APPH it has implemented cost reductions to mitigate weaker trading conditions."Whilst we continue to experience some short term volatility, we have seen stabilisation in the majority of our markets in recent months. We will continue to manage our businesses proactively to deliver a robust performance in the remainder of the year and we will maintain our focus on cash generation and debt reduction," said the group.Interim dividend maintained at 2.30p, scrip alternative being offered.