NORTH Sea helicopter operator Bond Offshore Helicopters (BOH) saw profits climb 86% during the year leading up to a takeover of its parent, figures showed yesterday.
Accounts released by Companies House revealed pre-tax profits of £6.628million for the year to March 31, 2011, up from £3.572million in the previous 12 months.
Turnover was up more than 41% at £86.28million, from £61.09million previously.
A near-£270million buyout announced last May saw BOH and parent Bond Aviation Group (BAG) come under new ownership. The buyer was World Helicopters, a holding company of private-equity-owned Spanish group Inaer.
BAG’s fleet of more than 40 helicopters gave Luxembourg-based World Helicopters access to about 360 rotary and fixed-wing aircraft.
BOH employs 320 people and operates 16 twin-engine aircraft, including two offshore and the rest in Aberdeen, Blackpool, Norwich, and Sumburgh. A further aircraft is due for delivery early this year.
Commenting on the results, BOH managing director Bill Munro said: “The figures reflect another strong performance by the company and ongoing expansion of our fleet, staff, client base and services. The positive trend continues in the current year, reinforcing our strategy for growth of operations in the UK and internationally.”
BOH said turnover and profitability were driven by a new contract, with Perenco, for two Eurocopter AS365N3 helicopters and the full-year impact of previous deals.