BBA Aviation – CEO Interviewed on Interim Results 2009
Written by thomas · Filed Under Aeronautics NewsAugust 7, 2009
LONDON, August 6 /PRNewswire-FirstCall/ — BBA Aviation, the leading provider of flight support and aftermarket services and systems to the aviation industry, said while revenues in the first half were down 13 per cent, operating profits only fell 2 per cent on a like-for-like basis, to GBP50.6m, thanks to the “difficult” measures it had taken to mitigate against the downturn.
“One of the reasons that we have been so resilient through this first half is all our businesses demonstrate a low level of operational gearing and this means we can flex our cost base to meet the environment that we face,” Simon Pryce, Chief Executive, said in a video interview with Cantos.
“What I am really pleased to see, though, is the continued focus that we have on generating free cash flow, where we reduced our debts by over GBP100m in the first half of 2009 and we generated in excess of almost three times the free cash flow that we generated in 2008, and there is more of that to come.”
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