Bermuda Aviation Services Ltd and its subsidiaries have reported net income from continuing operations of $1 million for the six months ended September 30, doubling the $500,000 in net income recorded in the prior year period.

In a filing with the Bermuda Stock Exchange, a company spokesman said the growth “demonstrates the success of our efforts to enhance efficiency, manage costs, and capitalise on new project opportunities”.

Companies in the BAS group include BAS Facilities Management Ltd, Cedar Isle Cleaning, Otis Bermuda, Weir Enterprises and Eastbourne Properties Ltd.

The group said revenues from continuing operations rose to $6.6 million, a $400,000 increase over the prior year, largely due to additional revenues from key projects.

The total cost of revenue remained consistent at $2.3 million, leading to a gross margin of $4.3 million, up from $3.8 million in the prior period.

The spokesman said: “Despite these improvements, gross margins continue to be impacted by competitive pressures in various business lines as well as higher material and shipping costs.”

Operating expenses for the period were $3.4 million, unchanged from the prior year.

The spokesman said: “Management’s ongoing focus on operational efficiencies at the subsidiary level has helped offset rising operational costs, contributing to the group’s financial stability.”

Earnings per share from continuing operations doubled to 21 cents compared with ten cents in the prior period. A special dividend of ten cents per share was paid on October 15.

The spokesman said: “Over recent years, the group has undertaken several strategic initiatives to strengthen its financial foundation and drive long-term growth.

“These efforts include improving service delivery, optimising operations, and collaborating with clients to provide innovative, cost-effective solutions. These strategies have positioned the company to navigate market challenges effectively while continuing to deliver value.

“Looking ahead, the leadership team remains dedicated to achieving robust financial performance and creating sustainable shareholder value. By staying responsive to market conditions and focusing on client relationships, the group aims to further enhance its position in the industry.”