For any followers of Plus Quoted Air Touring Group suddenly looks very interesting indeed.

ATGO was one I only glanced at in passing when it floated, but after today's statement I decided to go back and have another look.

I like what I see, and have bought some shares today.

They say they expect to beat forecasts for the year 2006-7 after a strong start to the financial year (though it should be noted revenues are lumpy). They have in three months beaten last year's total sales.

The prospectus is online at the Plus website (worth a read, it is decent) and the forecast was a pre-tax profit of 628k for the financial year just started.

If that is beaten the p/e is unlikely to be over ten on the current market cap of under 7 million.

Also I liked a couple of things from the prospectus; they note that infrastructure is well established, so development costs are unlikely to rise significantly, and management looks to be strong with plenty industry experience.

But then I spotted what I think is a right little nugget;

6 Javelins are pre-ordered for delivery in 2009-10 worth $15.6 million (though two will have reduced margins as they were not ordered originally through the company). Any further orders in that area are likely to be very lucrative. (profit forecast by then is for almost 2 million quid, normally that would be a pinch of salt but with an order book already well filled, may stand a thoroughly decent chance of being met).

It looks as though this company has a rosy future and imho a few shares are definitely worth tucking away.

Profits for the year to last September will be small it should be noted, in the upcoming results due next month, but for the 2006-7 year in the region of 700k.

Here's the trading statement in full - fair to say it was a belter!

Air Touring, a leading distributor of general aviation aircraft in Europe,
which commenced trading on PLUS on 17 October, has made a strong start to its
new financial year, with first quarter sales in 2006/07 exceeding full year
2005/06 sales. Since the start of the company's new financial year on 1
October 2006, aircraft deliveries have included:

* a new Socata TBM 850 (US Dollars 2.8m)
* a pre owned Socata TBM 700 (US Dollars 2.3m)
* a new Columbia 350 (US Dollars 430,000)
* a pre owned Cessna 340 (GBP 170,000)

Additionally orders have been taken for:

* a pre owned Socata TB 20 for delivery in February `07 (GBP 165,000)
* a new Socata TBM 850 for delivery in March `07 (US Dollars 2.85m)

Air Touring also has a 50% stake in Socata GmbH, based in Siegerland, Germany.
Socata GmbH distributes Socata and Columbia aircraft to the German and Austrian
markets and also demonstrated exceptional sales performance towards the end of
2006. Deliveries made in the month of December included a new Socata TBM 850
and four new Columbia 400's, with sales revenues for the month exceeding $4.8
million, and hence profits for calendar year 2006, exceeding expectations.

Michael Pearce, Founder and CEO of Air Touring, said:

"In our last financial year we had total sales of approximately *4.4 million.
We have made a very encouraging start to this year's trading, with combined
aircraft deliveries and orders of approximately *4.5 million, and I am looking
forward, with confidence, to the current financial year. Based on orders
achieved so far in this financial year, and projected first quarter results, we
believe we are more than capable of outstripping our sales forecast for 2006 /
07.

"When we floated, we said that we would use the funds raised to help grow the
business. So far, we are on track with our plans."

Just looking back through the prospectus and announcements the freefloat is truly miniscule!

The Directors funded the company themselves 'at source' so there are no 'angel' investors wanting to sell.

Of the 12,216,000 shares, 12,059,000 are in just seven hands. The market makers were given 100,000 leaving a freefloat of 47,000 shares! I guess St Helen's will have a few. (Most of the mm shares have now gone as they had to acquire 25k - of the 100k - to aid liquidity.

I'm accounting for 5,000 (probably from the mms 75k).

There are 1,672,890 options in total.

The offer was also oversubscribed.

I wonder if they plan to buy the other 50% of their German holding.

Air Touring, a leading distributor of top marque aviation aircraft in Europe,
today announce the appointment of Bernard Cheong as General Manager and Company
Secretary.

Bernard replaces Peter Cousins, who will be retiring, and joins from Airline
Rotables Ltd, a subsidiary of Singapore Technologies Aerospace (ST Aero), a
leading independent third party aircraft maintenance, repair, overhaul and
engineering specialist.

Bernard graduated from the Imperial College of Science, Technology and Medicine
in London in 1988 with a First Class Honours degree in Aeronautical
Engineering, in 1997 he obtained a Master's Degree in Finance from the London
Business School before returning to Singapore to join ST Aero. He returned to
the UK in 1995, joining Airline Rotables, based at Stansted Airport. He was
appointed as Director and General Manager in 1999 and led the company to
considerable success, significantly increasing turnover and profits in a short
timeframe. During this time Bernard was a Director of two other Singapore
Technology companies.

Commenting, Michael Pearce, Founder and CEO of Air Touring, said:

"Bernard has a highly impressive pedigree and I am delighted to bring him on
board. He has a proven track record of improving operational and financial
performance and I have every confidence that he will have the same impact
here.

"Since we joined PLUS in October last year we have established a firm strategic
and financial base for expansion. With high calibre personnel like Bernard
Cheong and aircraft like the ATG Javelin, we have both the people and the
products to achieve our goals"."

Commenting on his new position, Bernard Cheong said:

"The recent listing provides a platform for Air Touring to take their business
to the next level. Air Touring is an exciting and dynamic company and Michael
has a clear vision for its future. I am excited to be offered the opportunity
to be part of it."

Air Touring listed on the PLUS market on 17 October 2006. The company raised
just over GBP1 million in an offer that was significantly oversubscribed
and since the flotation its shares have performed strongly, gaining nearly
20%. Air Touring also announced strong sales performance in a trading
statement issued earlier this month with turnover for the first
quarter of this financial year outstripping turnover for the full year
2005/06.

Bought a few more of these yesterday - the size of the forward order book is more than comforting given the current market cap!

Yes they just love their little fokkers.

Well done by the way on this on the TMF news pages......

Profiting From The Nouveau Riche

By David Holding | 1 February 2007
|
Are jets and aeroplanes the new expensive cars? Well, no, but you get the gist. What better status symbol for the ever-increasing numbers of nouveau riche than their own aircraft? And if you can't justify buying one, why not hire one?

Air Partner (LSE: AIP) allows customers to charter their own aircraft. And the company's trading statement today seems to confirm that this is an expanding market: "...earnings for the interim period will be significantly and materially ahead ... exceptionally buoyant market conditions..."

When you look at the language Air Partner uses on its website, you can quickly see who the service is aimed at:"When you choose to charter your own aircraft, whether it is a business jet, helicopter, or a commercial airliner, you become the decision-maker... You choose the aircraft type, the level of comfort, and the facilities on board. You travel alone, or with colleagues of your choice, and no one else the use of private terminals avoids contact with the travelling masses."

Heaven forbid we should have to rub shoulders with those horrid "travelling masses"! But there's no mention of one's "carbon footprint" here.

Take-off

Anyway, the share price graph tells its own story, rising at a steady 45 degree angle from £2 four years ago to £8.35 today at which the company is valued at almost £83m. Maybe some of the long term shareholders will be chartering their own aircraft on the back of this rise?

Sadly, this particular take-off happened without yours truly on board, and I wouldn't be buying a ticket at over £8. But are there similar opportunities elsewhere and is the trend set to continue. This excellent post by "Eyecatchers" mentions Air Touring (Plus: ATGO) which sells "top marque" aircraft. This company is equally bullish as its trading update a few weeks ago confirmed:

"...a strong start to its new financial year, with first quarter sales in 2006/07exceeding full year 2005/06 sales. Since the start of the company's new financial year on 1 October 2006, aircraft deliveries have included a new Socata TBM 850 (US Dollars 2.8m)."

The company is currently valued at a little over £7m, but with the directors owning over 80% of the shares, investors had better fasten their seat belts as a little turbulence could be expected. Also be aware that Air Touring has its primary quote on Plus (a junior exchange formerly known as Ofex.) Investing in companies with this status is normally seen as a high-risk game.

In "Wall Street," Gordon Gekko said: "Guys like me have had their asses hung in a sling with the airlines."

What the future holds for buying or hiring the planes directly is anyone's guess, but as long as the boom continues, so will the businesses where the main beneficiaries spend their new money.

Blimey, blush blush!

Thanks though pizzaboy (I confess to a quick look but can't find it - are you sure you aren't making it up?)

I see a trade of 25k this morning and a move up. I guess that means that the mms have topped up - (they seem to do it on a Friday) due to a few buyers in the last week or two.

Front page , latest headlines thursday, bottom right corner of front page.

http://www.fool.co.uk/news/investing/compa...veau-riche.aspx

Dont get too big headed or Ill send round a little fokker to bomb you, wether you are in kasikstan or heathrow.

Results due by end of month; prospectus was for around break even, but with 600k for the following year. Worth watching out for with a bulging order book already announced for the first quarter; and I expect a bullish outlook statement.

Slightly ahead of the prospectus which was forecasting "around break even" after discontinued operations; a gain of 73k on continuing ops is therefore encouraging.

Also the order book is pretty full for this year and they have the $15 million in forward orders for Javelins for future years.

All in all very healthy.

Sales from continuing activities were GBP 4.25m producing a profit of GBP 73k,
total sales were GBP 4.42m an increase of over 100 per cent on 2005 sales of
GBP 2.19m.

HIGHLIGHTS

* Revenues up over 100 per cent to GBP 4.42m

* Profit of GBP 73k on continuing activities

* Loss making fractional leasing business discontinued

* New model Socata TBM 850 turboprop launched

* New model Columbia 350 and 400 certified

* PLUS IPO launched

SALES AND MARKETING

The focus of sales and marketing activity has been in new aircraft sales of our
three product lines:

* Columbia - sales of Columbia aircraft in 2005/06 were restricted owing to
certification delays of the new Garmin avionics equipped aircraft. The
first new model was received in October 2006, and is now being actively
marketed.

* Socata - the market for the new TBM 850 turbo prop, launched in early 2006
has been strong. All three aircraft pre-ordered for delivery in the
current year 2006/07 have been forward sold. Additionally, the market for
pre-owned TBM 700 turbo props is strong with two being sold to date.

* Javelin - the order book continues to grow. First delivery expected 2009.

An active sales and marketing plan is in place for the current year with
extensive advertising and participation in air shows including: Aero,
Friedrichshafen; EBACE, Geneva; Aero Expo, Wycombe; Paris Air Show, and for the
first time, MAKS in Moscow, along with a number of other smaller events during
the course of the summer, including demonstration tours of the Columbia
Aircraft in U.K, Ireland and Spain.

Overall the market for general aviation aircraft is good, in particular for
turbo props and jets.

Noted from yesterday:
'Air Partner (AIP) shares ran to new highs following a positive pre-close trading update - an update from broker Charles Stanley aided a large chunk of the share price progress, as it advised clients to "buy" forecasting earnings of 38p per share.'

Given the real similarities of the businesses I hope that augurs well for ATGO.

From break even (as per prospectus) for last full year, they were forecasting 600k for this year. The interim profit of 314k and eps of 2.6p looks bang on course.

Excellent interim results today for this PLUS trade; T/O up 1000%, with Gross Profit up 573% and operating profit up a very impressive 300%.

Revenues are lumpy and sale of Columbias less than hoped together with a weaker dollar, but more than made up for elsewhere, the forward order book is superb and the company seems very self-confident.

'"I am pleased to report a solid set of Interim financial results, in line with
management expectations, with both turnover and gross profit significantly up
on 2006.

"Gross profit for the half year increased 48% compared with the previous full
year. Net profit showed a large positive swing, giving a six month EPS figure
of 2.62p. We are looking to continue this strong performance for the rest of
the current year and into 2008.....

Add in $15 million worth of Javelins for 2009-2010 and this company looks a strong long term buy to me.

Also it looks like new markets are opening up as the company's strategy matures:
'Discussions are in progress with new aircraft manufacturers with a view to
extending our product portfolio. We are particularly keen to extend our product
sales in the light jets market.'

Up 2p at 62.5p.

Speculative buy from AIM and Plus Newsletter.

I posted this in the weekend trading thread and copy here for those who don't pop in over the weekend.

Air Touring Group is profitable and has a p/e of about 12; St helen's is forecasting 6p eps (prospectus 5p) on a share price of 65p, (profit up from zero!) and a near doubling next year, which could give eps of around 10-12p on a current share price of 68p.

They sell light aircraft to people like Saucepan (the super rich!) and what is so impressive is their forward oder book - 'at a record' - and this gives the earnings forecasts real visibility.

Not only for 2008, but they have already confirmed orders for delivery of Javelins for 2009-10 of over $15 million, almost their entire market cap.

So despite appearing to be in a 'racy' sector, the company actually has unusually strong reliablility of earnings streams guaranteed, making this a pretty low risk high growth investment in my view.

Worth checking out maybe:
http://www.plusmarketsgroup.com/details.sh...IN=GB00B1FYZ312

I am back into this - it has that touch of class rarely seen here and flled its year's order book in two months and the future order book is bulging, together with other new developments.

Thus:
Since the financial year end, Air Touring has contracted to sell its entire quota of five TBM 850 aircraft for
2008. This is a 66% increase on the previous financial year.'

The recent of course very sad Cessna accident probably didn't help things, but that should be short term and I think Air Touring is in rude health.

Margins this year are according to the earlier statement likely to be greatly enhanced and I think eps will grow exponentially this year.