Hanger8 flies on positive update

Hanger8's announcement that it had 'very strong' start to the financial year and that it expects full year results to be above market expectations sent the shares soaring in early morning trade on Wednesday.

The business jet charter and management company revealed that earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months ended September 30th were up 331% to £0.46m (Q1 2011: £0.11m).

Furthermore, it was bullish on full year prospects: "The board continues to see a consistent level of growth in its business and anticipates that the results for the year ended June 30th 2013 will be materially above market expectations."

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Final results for the year to June 30th 2012 will be released on November 28th.

At 12:52 the shares were up 24.38% at 176p.

CM