British aero engineer Senior is benefiting from the huge order backlog of the world's major plane makers, Boeing and Airbus.
The company, which announced its half-year results on Monday, makes gas turbine engines and other components for aeroplanes, as well as land vehicle emission controls.
Revenue to the end of June was £377.2m, up 20% on the same period of 2011 while adjusted profit before tax came in at £45.5m, also 20% up on the prior year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Operating margins declined 10 basis points (0.1%) to 13.5%, while the interim dividend, in line with profits, has been boosted 20% to 1.38p.
Boeing and Airbus have 8,000 orders in place, enough to keep them busy for the next six years and they both need firm's like Senior to provide components over that build cycle.
Commenting on the results, Mark Rollins, Chief Executive of Senior, said the firm "cannot expect to be immune from ongoing macroeconomic uncertainties..." but maintained the general outlook "remains encouraging."
The market wasn't happy though, at 8:54 the shares had fallen 3%.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
