Bristow sees growth in first quarter of fiscal year 2015

A helicopter operated by the Bristow Group.

Bristow helicopters can be identified by the company's red, white and white colour scheme.

Bristow Group, the owner of Bristow Helicopters, reported operating revenues of $437.3 million in the first quarter of fiscal year 2015, up 21.6 per cent from last year.

Adjusted EBITDA in the quarter increased by 24.5 per cent and adjusted EPS was up 32 per cent.

“This superior performance is a testament to the passionate client focus of our team members across the globe,” said Jonathan Baliff, CEO of Bristow Group.

Adjusted net income totalled $47.4 million ($1.32 per diluted share), which was up from last year $36.5 million ($1.00 per diluted share) by 30 per cent.

Since last year, Bristow has expanded its European operations, by adding five new helicopters, increasing its activity with existing clients and beginning search and rescue operations at two bases in the UK.

The company also started a significant contract with INPEX in Australia.

Bailiff said: “We are hearing about a lot of our client concerns over their rising costs and renewed emphasis on capital spending discipline, however what Bristow and our competitors see is continued growth in tenders in global helicopter demand. In fact, in certain markets at record pace.”

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