BOC Books $163m 1H Profit

BOC Aviation has raised its net profit after tax for the six months ending June 30, 2013 by 57 per cent. It took $163m in profit during the period. BOC Aviation's total assets increased to $9.9bn after paying a dividend of $113m to the Bank of China Group. It had $680m in cash and a debt-to-equity of 4:1. It had a fleet of 223 aircraft, including 198 owned and 25 managed aircraft, and more than 50 airline customers. There were 30 new deliveries during the 1H, including 10 aircraft on sale and leaseback, a record for a six-month period. "In the first 20 years, we have built a strong balance sheet and a pipeline of future orders for the next phase of our growth,'' Robert Martin, CEO of BOC Aviation, said. "We are justifiably proud of our achievements but also mindful we continue to require focus, discipline, management experience and retention of professionals, and robust risk management processes."

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