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Aero parts supplier Senior's H1 profit rises on strong demand
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Aero parts supplier Senior's H1 profit rises on strong demand
Aug 4, 2024 11:41 PM

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)

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