Bermuda Aviation Services profit dips in first six months
Bermuda Aviation Services and its subsidiaries achieved net income from continuing operations of $0.95 million for the six months ended September 30, a decrease from $1 million for the same period last year.
A spokesman for the firm said: “While we continue to experience cost pressures in several business areas, management remains focused on controlling expenses where possible and improving operational efficiency.”
Revenues from continuing operations increased to $6.8 million, up $0.3 million from the prior year, largely due to additional income from key projects.
The total cost of revenue rose to $2.5 million, resulting in a gross margin of $4.4 million, compared with $4.3 million in the prior period.
BAS said although margins have strengthened modestly, they continue to be constrained by competitive market conditions as well as higher material and shipping costs.
Operating expenses for the period were $3.6 million, an increase of $0.2 million over the prior year.
“Despite this rise, management’s ongoing emphasis on subsidiary-level efficiencies has helped mitigate the full impact of increasing operational costs and has supported the group’s overall financial stability,” BAS said.
Earnings per share from continuing operations were $0.18 compared with $0.21 in the prior period. In recognition of the company’s continued solid performance and its commitment to delivering shareholder value, a special dividend of $0.10 per share was declared on September 3, 2025.
In recent years, the group has implemented a number of strategic initiatives to strengthen the financial foundation and promote sustainable long-term growth.
These include improving service delivery, optimising internal processes and closer client partnerships to develop innovative and cost-effective solutions.
“These efforts have helped position the company to navigate ongoing market challenges while continuing to deliver value to shareholders,” BAS said. “Looking ahead, the leadership team remains committed to driving strong financial performance and enhancing shareholder value.”
• For the full report BAS interim report see Related Media
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