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Aviation services company Signature Aviation posted a rise in annual profit after it booked a gain on the sale of its Ontic business.
Net profit for the year through December, including discontinued operations, rose to $659.5m, up from $137.9m on-year.
Revenue rose 4.7% to $3.02bn, while underlying pre-tax profit edged up 0.4% to $309.3m
Signature Aviation declared a full-year dividend of 14.77c per share, up 5% on-year.
'2019 has been a transformational year as we continued to invest in our core Signature business and fully recognised the strategic value of our Ontic business,' chief executive Mark Johnstone said.
'Signature Aviation had a solid year, with a good Signature FBO performance in a flat US B&GA market.'
'We are encouraged that progress on our new commercial initiatives improved our market outperformance to 100 basis points in the second half.'
Johnstone said said the company was 'focused on continuing to improve its level of outperformance against the US B&GA market'.
'With our singular focus on the cash generative FBO business, we reiterate our progressive dividend policy and will look to further enhance returns to shareholders as we maintain our target leverage range, while continuing to invest to grow the business,' he said.
'The board is confident of delivering further progress and market outperformance in 2020 through our Signature strategic growth initiatives.'