The LISI Group reported 4.8% sales growth in the first half of 2014 on constant scope and exchange rate basis. Group operating profits increased by 2.5%.

Group sales were 616.9 million euros compared with 594.8 million euros for H1 2013. However, the negative currency effect cost the Group 6.2 million euros in growth for the half year. EBIT for 2014 H1 was 71.2 million euros up from 69.4 million euros for same period 2013.

In June LISI Group acquired all the shares of Manoir Aerospace for a total consideration of 126 million euros but the completion was too close to the half year end to reflect in Group activities. Manoir mainly specialises in forging metal parts, exclusively for aeronautical applications, and posted 2013 sales of around 164 million euros.

Prior to the acquisition aerospace already accounted for 57% of Group sales. A slight decline in European aerospace fastener sales, related to the commissioning of the A350 assembly line, was offset by growth of sales in the United States. First half 2014 sales totalled 347.8 million euros up 1.5% on same period 2013.

The automotive division, which contributed 38% of sales, benefited from recovery of demand in Europe and from "hotspots such as China". Sales increased by 5.9% (6.5% at constant scope and exchange rates) to 233.5 million euros. LISI noted particularly strong production increases from VW, Daimler, Renault-Nissan and Dacia and the Group estimates 10% growth with German manufacturers and suppliers as well as new Asian customers. Operating profit rose 5.1% to 6.7 million euros, despite a number of non-recurring costs including ongoing reorganisation.

LISI Medical returned to significant growth in line with its strategic directions.