Hangar 8 (HGR8), which looks after private jets for the rich and famous, grew first-half revenue by 13 per cent to £12.5m and adjusted cash profits by almost a third to £1.2m. If ambitious boss and co-founder Dustin Dryden's approach for larger rival Air Charter Service Group had been successful, next year it would have been considerably more.
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Air Charter, which last year generated sales of £253m and pre-tax profit of £2.5m, turned Mr Dryden down. Still, Hangar 8's contracted revenue, which ties clients in to longer-term deals and improves visibility, is growing fast and now makes up 83 per cent of the business. It now operates 14 more lucrative super heavy jets, too.
