Make sure you read the cooking notes before you start.
Preheat the oven to 350°F (180°C). Generously butter a 8-9 inch circular pie dish or skillet.
In a large mixing bowl, whisk together the milk, sugar, eggs, vanilla and almond extract. Sprinkle the flour and salt gradually, whisking continuously to avoid lumps and until smooth.
Place the halved apricots on the bottom of the prepared dish. Pour batter over top and sprinkle with the shaved almonds.
Bake for 1 hour. The Flaugnarde is done when puffed and brown on the edges, and the center looks set but still with a little jiggle.
Transfer to a cooling rack. The Flaugnarde will deflate as it cools and firm up in the center.
Serve warm or cool, cut in slices.