Planemakers lift figures at Senior
BRITISH aero engineer Senior reported a 17 per cent rise in first-half profit, helped by increased production by its largest planemaking customers who are seeing continued growth in demand for commercial aircraft.
Senior, which makes components and systems for the aerospace, defence, land vehicle and energy markets, yesterday posted an adjusted pretax profit of £38m on revenues 10 per cent higher at £315.6m for the six months to the end of June.
Commercial aircraft demand is picking up as air travel recovers and funds return to the leasing market. Soaring oil prices, meanwhile, are forcing airlines to renew fleets with more fuel-efficient planes. As such, planemakers Boeing and Airbus , two of Senior’s largest customers, have both increased production rates in recent months.
Senior, which increased its interim dividend by 15 per cent to 1.15p, said the outlook was encouraging.