31 July 2012 – pre-close statement

Air charter group Air Partner has issued a trading statement ahead of entering its close period and this has revealed that in the year to 31 July trading has continued in line with expectations.  The group’s cost cutting programme is now almost complete and this will benefit the new financial year.  The one-off cost relating to this programme will be taken in the 2012 financial year, but this should be offset by lower charges than expected in resolving a tax issue in the US.  The promising outlook for the group which now has a more focused sales approach means that the shares remain a BUY.