Bond Offshore Helicopters said yesterday the return to action of its fleet of EC225 aircraft lifted the company’s profits during the 15 months to March 31, 2015.
The North Sea helicopter operator said new contracts awarded in 2013 and 2014 and the longer accounting period had also contributed to its strong performance.
Bond’s financial year-end switched switch from December 31 to March 31 when it was taken over by Babcock in a £1.6billion deal in 2013.
The adjustment means an extra three month have been tagged onto the firm’s latest accounts.
The accounts, published by Companies House, showed a jump in pre-tax profits to £6.5million from £600,000 in 2013, while revenues soared 60% to £184million.
Its underlying trading profits increased by £400,000 to £11.7million.
The company said the grounding of offshore EC225 flights in the wake of a number of ditchings in 2012 had put a £15million hole in its revenues in 2013.
North Sea EC225s resumed commercial services in August 2013.
A spokesman for Bond yesterday said the last 15 months had been positive with both revenue and trading profits up on 2013.
He said the figures reflected Bond’s “customer focus and managed growth strategy”, as well as the return to usual flight operations after the industry-wide temporary suspension of all EC225 flights.
Bond, which last month completed the construction of a new aircraft hangar at Aberdeen International Airport, employed 507 people on average over the 15 months, up from 386 in 2013.
Bond, whose directors opted against paying out a dividend, has net assets of £20million and cash balances of £11million.
Earlier this year, Bond’s managing director, Luke Farajallah, left the company to take up the post of chief operating officer at regional airline Flybe.
In March 2015 Bond celebrated the award of a £60million contract to lay on North Sea search and rescue (SAR) services.
Recommended for you
