HAECO reports 2016 results

The HAECO Group has reported an attributable profit of HK$975 million in 2016. The profit included a gain of HK$805 million on disposal of the interest of Hong Kong Aero Engine Services (HAESL) in Singapore Aero Engine Services (SAESL) and an impairment charge of HK$285 million in respect of the goodwill recorded on the acquisition of TIMCO Aviation Services (TIMCO). The HAECO Group’s 2015 attributable profit was HK$464 million. Disregarding the gain on disposal in 2016 and impairment charges in both years, the HAECO Group’s 2016 attributable profit was HK$516 million, 8.2% higher than in 2015. The Directors have declared