Geopolitical Risks Propel Czech Drone Producer to Record Profit
A Primoco UAV drone
Source: Primoco UAV SE
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Czech drone maker Primoco UAV SE announced record half-year profit as rising defense spending globally spurred demand. Its shares rallied.
The Prague-based company is benefiting from a surge in security spending, driven by Russia’s invasion of Ukraine, conflict in the Middle East and global geopolitical tension. Primoco, which joined the main market of the Prague Stock Exchange earlier this year, makes medium-sized unmanned aerial vehicles used, among other things, for combat reconnaissance and border monitoring.