Airwork on track to meet FY target after 1H profit slips 18 percent on IPO costs, interest rate swaps

Wed, 19 Feb 2014

By Paul McBeth Feb. 20 (BusinessDesk) - Airwork Holdings, the aviation services specialist which listed last December, is on track to meet its annual earnings target after first-half profit slid 18 percent on the cost of its initial public offer and a revaluation of its interest rate swaps. Net profit fell to $4.6 million, or 10.6 cents per share, in the six months ended Dec. 31 from $5.6 million or 13.2 cents, a year earlier, the Auckland-based company said in a statement. Underlying earnings, which strips out $1.3 million in IPO costs and...

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