MS International PLC shares jumped on Tuesday after it said profit rose in its latest six months, and raised its interim dividend.

The stock rose 9.3% to 940.00 pence each that morning in London.

The Doncaster, Yorkshire-based defence equipment manufacturer said pretax profit for the half year that ended on October 31 ‘increased substantially’, more than doubling to £7.7 million from £3.5 million the year before.

Revenue increased 36% to £57.0 million from £42.0 million.

MS International declared an interim dividend of 3 pence per share, up from 2p the prior year.

Chair Michael Bell also noted that MS International delivered a ‘significant contract’ on its VSHORAD counter-drone system, which had ‘negatively impacted’ the previous year’s results due to the customer’s delay in taking delivery.

Going forward, Bell said: ‘We believe that we have continued to enhance the performance of the group’s businesses and with considerable confidence, we look forward to delivering further progress across the group.’

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