Aug 5 (Reuters) - British aerospace engineer Senior Plc ( SNIRF )
posted a 10% rise in its first-half profit on Monday,
buoyed by demand for commercial aircraft and higher defence
spending.
Senior, an aero parts supplier to Boeing ( BA ) and Airbus
, reported adjusted operating profit of 25.1 million
pounds ($31.9 million), up from 22.9 million pounds last year.
Aerospace and defence firms have been benefiting from an
increased demand for airplanes as flying hours reach the
pre-pandemic levels, offsetting production caps at Boeing ( BA ).
"The group's diversified position across key civil and
defence aircraft platforms, strong order intake and increasing
aircraft build rates are expected to drive good growth in
Aerospace for the full year," CEO David Squires said in a
statement.
Sales at the Flexonics division dropped as land vehicle
markets started to normalise and upstream oil & gas customers
reduced inventory levels, the firm said.
The Flexonics unit makes fluid conveyance and thermal
management components for vehicles and power and energy
applications.
($1 = 0.7857 pounds)