April 28 - Air Charter Service (ACS) posted a 10 percent year-on-year increase in turnover in its 2015 financial year at USD480 million; and a 28 percent increase in gross profit to USD60.2 million.
Commenting on the results for the year ended January 31, 2016, ACS chairman Chris Leach said: "To arrange more than 10,000 charter contracts and achieve a turnover of almost half a billion dollars is a remarkable feat and a fantastic way to end our 25th anniversary year.
"The strong increase was fairly evenly spread across our 20 offices worldwide, except for a downturn in our Russian offices' fortunes, due to the troubles in that region.
"The cargo charter market continues to strengthen and our cargo department, in particular, has had a brilliant year, buoyed by business done during the West Coast port strike at the beginning of 2015. We saw a 36 percent increase in the number of charters and an impressive 35 percent growth in gross profit last year."
He added: "Since 2014 we have restructured our Group Charter division and cut out an unprofitable revenue stream, which has allowed us to focus on other markets. We are starting to see the benefits now, with underlying growth of 14 percent in charter numbers and a healthy 23 percent in gross profit, as a result of this refocus."
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