Heroux-Devtek reports 6.6% jump in Q2FY24 sales, NPAT drops by 2%

Fri 02 Feb 24, 08:31 AM | Team Kalkine

Image source: shutterstock.com

Highlights

  • Heroux-Devtek has been selected by ITP Aero to spearhead the development of its avant-garde technologies.
  • In Q2 FY24, the company posted a 6.6% hike in sales to CAD 141.5 million, as compared to CAD 132.7 million in pcp.
  • Its operating income rose from CAD 8.6 million in Q2 FY23 to CAD 9.1 million in the reporting period. 

Heroux-Devtek Inc (TSX: HRX) is involved in designing, development, manufacturing, and repairs of landing gear and actuation systems and components for the aerospace market. It is also engaged in production of electronic enclosures, heat exchanges, and cabinets for airborne radars, electro optic systems, and aircraft controls via megatron operations and fluid filters products through its Bolton operations. Its products portfolio includes military fighter and transport aircraft, helicopters, jets, electronic enclosures, heat exchangers, and cabinets.

Recently, the company hit a significant milestone with its selection by ITP Aero to spearhead the development of its avant-garde technologies, confirming its onboarding to the FCAS program.

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