March 14, 2018 / 8:50 AM / in 5 months

BOC Aviation posts 40 pct rise in FY profit

SINGAPORE, March 14 (Reuters) - Asia’s second-biggest aircraft lessor, BOC Aviation Ltd, posted a better-than-expected 40 percent rise in full-year net profit on Wednesday as it benefited from higher lease revenue and U.S. tax cuts.

The company, which is based in Singapore but majority-owned by Bank of China, reported a record net profit of $587 million for the 12 months ended Dec. 31, up from $418 million a year ago, as it grew its fleet.

The result was 13 percent higher than the average estimate of $519.5 million of 10 analysts polled by Thomson Reuters I/B/E/S.

BOC Aviation in January had said its earnings would benefit by $88 million to $93 million due to U.S. tax cuts. (Reporting by Jamie Freed; Editing by Stephen Coates and Subhranshu Sahu)

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