ERJ staff report (LMH)
Plaisir, France -- Zodiac Aerospace has reported revenue of euro 1309.5 million, a growth of 35.6 percent in the first half of the year 2010-11.
Total current operating income for the group increased by 141 percent to euro 184.2 million. The French company attributed the growth to the continued recovery of the aerospace industry and a more favourable base effect than that seen in the first half of 2009-10.
Zodiac also acquired the companies Quinson and Cantwell Cullen at the end of the 2009-10 fiscal year, which it said helped results.
The company, which makes aircraft interiors, safety devices and control panels, produces a range of high-tech rubber flexible products in its Aerosafety and Technology unit.
Sales in the Aerosafety and Technology business grew by 19.3 percent, and operating income in the first half was euro 26.7 million, a jump of 39.5 percent from the same period in 2009-10.
Net earnings for the group as a whole expanded by 158.8 percent to euro 114.3 million, compared with euro 44.1 million in the first half of fiscal 2009-10.
Zodiac said trading conditions in the aerospace industry remained favourable overall. And the company forecast sales revenue growth for the full year 2010-11 of between 15-20 percent.
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Press release from Zodiac Aerospace