# Aero parts supplier Senior’s H1 profit rises on strong demand
Published: 2024-08-05
Category: News
Category URL: https://tradingherald.com/category/news/
Meta Title: Senior Plc's 10% Profit Rise Fueled by Aerospace Demand
URL: https://tradingherald.com/aero-parts-supplier-seniors-h1-profit-rises-on-strong-demand/

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(Reuters) -British aerospace engineer Senior Plc posted a 10% rise in its first-half profit on Monday, buoyed by demand for commercial [aircraft](https://tradingherald.com/avolon-ceo-says-q1-business-boosted-by-china-reopening/) and higher defence spending.

Senior, an aero parts supplier to Boeing and Airbus, reported adjusted operating profit of 25.1 million pounds ($31.9 million), up from 22.9 million [pounds](https://tradingherald.com/lloyds-of-london-swings-to-2022-pre-tax-loss/) 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.

“The group’s diversified position across key civil and [defence](https://tradingherald.com/uks-bae-systems-to-buy-ball-aerospace-for-about-5-55-billion/) 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)

(Reporting by Prerna Bedi in Bengaluru; Editing by Sherry Jacob-Phillips)


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