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Gama Aviation swings to loss in H1, expects H2 performance to be 'broadly similar'

By BFN News | 08:54 AM | Wednesday 30 September, 2020


Aviation services company Gama Aviation swung to a loss in first half of the year and said it expected underlying performance in the second half to be 'broadly similar' to the first half, citing Covid-19 uncertainty and the impact of reduced government support. For six months to 30 June 2020, the company reported a pre-tax loss of $4 million, compared with a profit of $2.2 million a year earlier, while revenue fell to $109.2m from $121.8 million. The company blamed the weakness on a 'fall in activity resulting from the pandemic and associated lockdowns.' Third-quarter trading to end September was stable and in line with management expectations, the company said. Looking ahead, the company said underlying performance in the second half was 'expected to be broadly similar to the first half, however results will be impacted by reduced government support.' At 8:54am: (LON:GMAA) Gama Aviation Plc share price was -4p at 32.5p Story provided by StockMarketWire.com

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