Story ID: 
Gama Aviation Shows 1H Growth
By: Curt Epstein
Caption: The UK-based company saw profits increase by 3 percent year-over-year
Word Count: 180
In its just-released financial results for the first half of the year, Gama Aviation reported revenue growth of 4 percent, to $145 million, over the same period in 2022, with gross profits up by 3 percent, to $27.6 million.
The UK company’s net cash flow from operating activities was down from last year, decreasing from $15.5 million, to $11.6 million. In that same span, the aviation services provider lowered its net debt by $300,000, to $66.1 million, and decreased its net bank obligations by $12.3 million, to $22.5 million.
“These first-half results demonstrate the progress the group continues to make in consolidating and building upon the significant improvement in financial performance that has been delivered over the last couple of years,” said CEO Marwan Khalek. “This is the result of our diligent implementation of our organic growth strategy and the optimization of our operational platform and cost base whilst continuing to deliver our clients’ mission.
“These results, delivered against a backdrop of a very challenging economic and business environment, again serve to illustrate the robustness and resilience of our business,” he added.