Cobham eyes growth as sales soar

Cobham pioneered air-to-air refuelling systems

Aerospace and defence engineering group Cobham has said it is targeting further growth after delivering a 12% rise in half-year earnings.

The UK group saw its pre-tax profits jump to £47.7m ($76.1m), while turnover rose 10% to £385.9m.

Cobham said its diverse markets offset tough conditions in the commercial aerospace and electronics sectors.

The company added that demand in the military sector, particularly in North America, had been strong.

Healthy order book

Cobham said its aerospace systems division had secured a number of large orders since June, with further business expected later in the year.

"The group's order book remains strong and this supports expectations of continued performance growth in all divisions," chairman Gordon Page said.

Separately, the firm said it had acquired California-based Sea Tel, the largest maker of commercial shipboard stabilised antenna platforms, for £16m, and technology service firm ERA Technology for £20m.

Cobham made its name in the 1930s as a pioneer of air-to-air refuelling systems.