cents per share, for the first half of its financial year ended September 30, a gain of about 16 percent over the same period last year.

Chairman Neville Conyers reported the company was able to improve its performance despite a "significant decline'' in air arrivals due to its acquisition of Crow Lane Bakery Ltd. and a control on expenses.

Revenue for the six monts was up six percent to about $7.37 million. Expenses were up two percent to $6.23 million. Operating income was up 28 percent to $1.14 million.

The company also declared a dividend of 10 cents a share for shareholders of record on October 31.

The six month reported period is the most profitable period for the company as it is the tourist season. BAS provides aircraft handling, passenger handling and catering services at the Bermuda airport. It has also formed a joint venture with Serco Aviation to provide a variety of maintenance and administrative services to other companies.

In its last annual report BAS reported profits fell 16 percent to $580,068, or 54 cents a share, for the year ended March 31, 1997 compared to the previous financial year.

BAS shares last traded at $4.25 on September 5.