# Aero parts supplier Senior’s H1 profit rises on strong demand
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-08-05
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Senior Plc Reports 10% Profit Increase in Aerospace Sector
Meta Description: Senior Plc, supplier to Boeing and Airbus, saw a 10% profit rise in first half due to aerospace demand. CEO expects good growth for full year.
URL: https://startupobserver.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 and higher defence spending.

[Senior](https://startupobserver.com/senior-doctors-in-england-accept-new-pay-offer-and-end-strikes/), 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 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 [aircraft](https://startupobserver.com/factbox-what-airlines-regulators-are-doing-about-boeing-737-max-9-jets/) 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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