(Alliance News) - Amedeo Air Four Plus Ltd on Wednesday posted a sharply lower pretax profit for financial 2019 mainly due to a drop in foreign exchange gains.
For the year ended March 31, the aircraft leasing company recorded pretax profit of GBP8.5 million, down sharply on GBP228.5 million in the comparative year ago period. Foreign exchange gains plummeted to GBP1.9 million from GBP184.8 million.
Net asset value per share stood at 109.70 pence each at period end versus 109.58p a year ago.
Excluding finance costs and forex gains, net profit totaled GBP91.4 million versus GBP93.9 million.
Income for financial 2019 grew to GBP254.7 million from GBP219.2 million. US dollar based rent income grew to GBP209.3 million from GBP174.3 million, while Sterling rent income income increased to GBP45.4 million from GBP44.6 million.
Shares in Amedeo Air Four closed at 90.78p each, down 0.5%.
Amedeo Afp (AA4)