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Aero parts supplier Elder's H1 earnings rises on strong need

British aerospace engineer Senior Plc. posted a 10% rise in its firsthalf earnings on Monday,. buoyed by need for commercial airplane and greater defence. spending.

Senior, an aero parts provider to Boeing and Plane. , reported adjusted operating revenue 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.

The group's diversified position across crucial civil and. defence airplane platforms, strong order consumption and increasing. airplane build rates are expected to drive great development in. Aerospace for the complete year, CEO David Squires said in a. statement.

Sales at the Flexonics division dropped as land lorry. markets started to normalise and upstream oil & & gas clients. minimized inventory levels, the firm said.

The Flexonics system makes fluid conveyance and thermal. management parts for vehicles and power and energy. applications.

(source: Reuters)