BOC Aviation posts 11% profit increase for FY14

Singapore

AIRCRAFT leasing company BOC Aviation chalked up an 11 per cent rise year on year in post-tax net profit to US$308.6 million for the financial year ended Dec 31, 2014, in tandem with higher revenue.

Revenue was 8 per cent higher at US$988.4 million while total assets expanded 12 per cent to US$11.4 billion, it said. Costs and expenses were also higher, rising from US$607.8 million to US$635.6 million, while cash, bank balances and fixed deposits came down to US$367.4 million from US$538.2 million previously.