Full Year to 31 July 2011 Presented by Mark Briffa, CEO Gavin - - PowerPoint PPT Presentation

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Sep 10, 2023 14 likes •268 views

Full Year to 31 July 2011 Presented by Mark Briffa, CEO Gavin Charles, CFO Overview Strong results in a difficult trading environment Focus on core broking producing results Significant new contract wins Investment in

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Presented by Mark Briffa, CEO Gavin Charles, CFO

Full Year to 31 July 2011

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Slide 2

Overview

Strong results in a difficult trading environment
Focus on core broking producing results
Significant new contract wins
Investment in people & skills
Strategic progress made in territories, markets &

products

Contribution from non UK offices growing

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Slide 3

Financial highlights

Revenue

up 23% £282m

Profit before tax

up 93% £5.3m

Gross profit margin

up 0.5 % pts 9.2%

Full year dividend

up 10% 16.5p

Cash

(39%) £7.2

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Slide 4

Operational Highlights

CJ particularly strong
Sales staff recruited in: Austria, Monaco, Russia, Spain,

Ukraine & USA

Time Critical product launched in the UK
Success in sub leasing
Further recognitions of excellence: Royal Warrant &

Sunday Times Best Companies star rating

BRIC research continues

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Slide 5

Financial review

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Slide 6

Income statement

£m 2011 2010 Change (restated) Revenue 281.9 230.0 23% Gross profit 25.9 20.1 29% Profit before tax 5.3 2.7 93% Discontinued operations 0.7 (4.4) Taxation (1.9) (0.0) Profit / (loss) for the period 4.1 (1.7) Dividends (interim and final - pence) 16.5 15.0 10%

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Slide 7

Balance sheet

2011 2010 Change £m (restated) Non current assets 3.2 3.4 (4%) Debtors 44.9 41.8 7% Cash 7.2 11.7 (39%) Other current assets 0.1 0.1 Total assets 55.4 56.9 (3%) Current liabilities (42.6) (45.9) (7%) Net assets 12.8 11.0 16%

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Group cash flow

8 2011 2010 £m (restated) Operating profit 5.3 2.6 Depreciation, amortisation & impairments 0.5 0.6 Movements in working capital (5.9) (3.8) Tax, interest and other (1.3) (0.1) Discontinued operations (0.6) (1.3) Net cash flow from operating activities (2.0) (2.0) New office expenditure (0.6) (0.0) Dividend payments (2.1) (2.3) Other 0.1 (0.1) Net decrease in cash (4.6) (4.4)

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Cash position (£m)

2009 2009 2009 2009

4 6 8 10 12 20-Jul 27-Jul 03-Aug 10-Aug 17-Aug 24-Aug 31-Aug 07-Sep 14-Sep 21-Sep 28-Sep

31 July 2011

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Revenue (£m)

50 100 150 200 250 300 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11

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Revenue by client sector (£m)

2009 2009 2009 2009

20 40 60 80 100 120 140 160 180 Govt Corporate HNWI 2009 2010 2011

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Divisional split of revenue

50% 18% 24% 8%

2010

60% 14% 15% 11%

2011

CJ PJ Freight Other

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Revenue by territory

58% 34% 6% 2%

2011

UK Europe USA Other

62% 31% 5% 2%

2010

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Divisional review

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Commercial Jet Broking

H1 success securing wide bodied capacity
12,000 people evacuated over a 6 week period
Continuing success in NGO & Government sector
Niche Tour Operator business performing well
C & I market showing early signs of recovery

0.5 1 1.5 2 2.5 3 3.5 4 20 40 60 80 100 120 140 160 180 2009 2010 2011 PBT £m Revenue £m

Revenue PBT

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Slide 16

Private Jet Broking

High levels of capacity & competition
Increased sales recruitment
JetCard sales increased by 82%
Market showing slow signs of recovery

0.2 0.4 0.6 0.8 1 1.2 1.4 5 10 15 20 25 30 35 40 45 2009 2010 2011 PBT £m Revenue £m

Revenue PBT

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Slide 17

Freight Broking

Transition post contract completion
Industrial & commercial clients up by 19%
Freight launched in US with strong results
Time Critical Logistics launched in the UK

0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 10 20 30 40 50 60 2009 2010 2011 PBT £m Revenue £m

Revenue PBT

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Slide 18

Other divisions

Recent investment programme showing results
Total revenue up by 59%
Fuel team won a number of major contracts
Step change in sub leasing revenue
Political instability driving demand for emergency planning

0.5 1 1.5 2 5 10 15 20 25 30 2009 2010 2011 PBT £m Revenue £m

Revenue PBT

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Strategy

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Group Strategy

Focus on core broking

Investment in people and infrastructure

Geographic expansion Diversify client base Products: a total solution Supplier partnerships

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Delivering against our strategy

28 new staff - 21 are sales focused
Development of Talent Management programme
2012 implementation of new system

Investment in people & infrastructure

Increased JetCard sales from international offices
Research into BRIC territories
New offices in Los Angeles and Monaco

Geographic expansion

New clients in Tour Operator, Sports and Oil & Gas
Significant contract wins in Automotive and Transport
Growth in industrial & commercial markets

Diversify client base

Time Critical product
iPhone app unveiled
Continuation of product roll out across group

Products: a total solution

Agreements in place with Air Caraibes and CitationAir
Continue to identify opportunities with operators

Supplier partnerships

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Air Partner today

Clear strategy to invest for future growth
Revenues and profits growing
No debt, good cash position
Increased front line staff driving increased sales
Highly experienced aviation professionals
Plc Board strengthened; search for chairman in hand
Group diversified by geography, products & clients

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Outlook

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Outlook

Strong set of results
Unique shortage of wide bodied capacity & Arab

spring work unlikely to recur

Current trading satisfactory
Remain cautious due to economic uncertainty
Visibility still very limited
Group well positioned for long term

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