INCREASED military spending in the US has helped world-class Dorset aerospace group Cobham to record interim results and a £1.3 billion order book.

Cobham braved the impact of the civil aviation downturn and the effects of September 11 to report an underlying pre-tax profit of £50.7 million, up 6.1 per cent.

Turnover for the six months to June 30 rose by 1.95 per cent to £349.5 million.

Chief executive Allan Cook said: "Thirty one per cent of all our business by turnover is in the US."

America's defence budget now stands at around $400 billion per year.

Chairman Gordon Page said: "The sheer weight of money being put into defence in the US means that it is going to remain extremely important to us."

Cobham's Flight Refuelling companies, including Wimborne-based FR-HiTEMP, saw turnover fall to £135.3 million (2001: £143.4 million) and operating profit drop to £21.6 million (2001: £22.5 million).

Demand from Airbus has slowed and FR-HiTEMP has also been affected by the cessation of programmes by BAE Systems and Fairchild Dornier but new business is expected to compensate for these losses.

Flight Refuelling is working on several new air-to-air refuelling programmes, notably the C130H special forces Talon transport/tanker.

Cobham's FR Aviation flight operations group, based at Bournemouth International Airport, also saw turnover fall slightly to £89.7 million (2001: £90.7 million) and operating profit drop to £9.1 million (2001: £9.3 million).

Westwind Air Bearings at Holton Heath returned to profitability in July and August, the rise being "as a result of cost-cutting measures taken previously".

Shareholders will see an interim dividend of 7.6p (2001: 6.9p) on earnings per share of 36.3p (2001: 33.9p).