Air Partner – 276.125p

7 December 2012 – AGM and interim management statement

The company has announced a trading update with regards to current performance and the outlook for the current year.  Its Private Jet and Commercial Jet broking divisions are performing in line with last year, with a particularly strong performance in the US market offsetting weaker trading in Continental Europe.  Freight broking revenue is lower than last year following the end of a major contract.  Overheads are being closely managed and net cash is over £10m, which is significant relative to the size of the business.  We rate the shares as a BUY.

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