SIAEC Group recorded a profit attributable to owners of the parent of $139.3 million for the first half ended 30 September 2011, an increase of $2.0 million or 1.5% compared to the corresponding period last year. This included a write-back of tax provision of $3.1 million. Share of profits from associated and joint venture companies increased by $0.7 million or 0.9% to $77.7 million, and accounted for 50.1% of the Group’s pre-tax profits. Operating profit decreased marginally by $1.9 million or 2.7% to $68.7 million as the impact of a weaker US dollar was mitigated by exchange gains of $8.6 million from hedging and the revaluation of net US dollar denominated assets. Revenue declined by $15.4 million or 2.7% primarily from lower revenue from materials. As a consequence, material costs were similarly lower, contributing to the $13.5 million or 2.7% reduction in expenditure.
Up to 26,000 jobs secured in Spain until 2060 with latest Eurofighter contracts
A recent study by Pricewaterhouse Coopers (PWC) shows clear indications that two Eurofighter programme contracts will secure up to 26,000 jobs in Spain. The study was funded by Airbus and took six months to complete. The report focuses on the economic impact of the ‘Halcon’ and ‘Quadriga’ contracts which are relevant to Spain. The report