A flow of new contracts in the civil aircraft and space arena has set software and systems engineering company Vega Group Plc’s results heading ever upwards. The Harpenden, UK company saw profits up a further 11% at 1.4m British pounds on revenue up 22% at 8.8m pounds in the six months to October. Shares were up 17.5 pence following the news, at 310 pence. The company won its first two civil aircraft training contracts. The first is to produce computer-based pilot training for Aero Internal (Reional) Plc, the maker of the BA 146 and Regional jet, and the second for a maintenance training system for Scandinavian airlines, SAS. Vega also won a 4m pound contract with the British Army to develop a simulations and modelling systems for the Land System Reference Center. Chairman Robert Drummond said the acquisition of Selmers Automation BV in August (CI No 2,970) has opened up opportunities in Holland and throughout Europe and has already begun to make a significant contribution to the group. In the space arena, Vega’s engineers have been involved in a number of satellite launches, and provide support to the European Space Agency as well as international satellite organizations including Inmarsat, Eumetsat, Intelsat and Eutelsat. Drummond says in addition to the steady flow of new contracts, Vega continues to win further work from existing customers in all market areas; it will pay an interim dividend of 1.9 pence, up 9% from last year.
