AAR Posts $22.9m Net Profit For Q1 2016

AAR has confirmed a net profit of $22.9m in the first quarter of the fiscal year 2016, a rise from the $14.4m it posted in the same period last year.

AAR has confirmed a net profit of $22.9m in the first quarter of the fiscal year 2016, a rise from the $14.4m it posted in the same period last year.

In the three months ending August 31, the firm’s sales reached $377.8m, down from the $395.1m AAR posted in the first quarter of the previous fiscal year.

In its aviation services division, AAR reported a year-on-year improvement in gross profit to the tune of $49.9m, crediting higher margins in MRO.

First quarter sales to commercial aviation customers now stand at 61 per cent, a rise of one per cent from the same period last year.

David Storch, chairman, president and CEO of AAR, said the results are in line with its expectations.

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