Last checked at 26 Apr 2018 07:00
Trading Update
Ahead of its Annual General Meeting on Friday 27 April, Senior plc ("Senior" or "the Group"), an international manufacturer of high technology components and systems, principally for the worldwide aerospace, defence, land vehicle and energy markets, issues this trading update for the period since 1 January 2018 (the "Period").
Markets & Divisions
Trading in the Period has been in line with expectations.
Activity in the large commercial aircraft sector continued to be positive, partially offset, as anticipated, by the decrease in military. There continues to be a ramp up of production volumes on the newer programmes such as the 737 MAX, A320neo, A350 and C Series.
Trading in the Flexonics Division benefited from growth in the truck, off-highway and upstream oil and gas markets, partially offset, as expected, by the decrease in passenger vehicles. Downstream oil and gas remained flat.
Outlook
Order books across most of our businesses remain strong and we expect to see improved performance in both divisions consistent with the position set out in the announcement of 26 February 2018. Overall, at current exchange rates, the Board expects good progress to be made in 2018 with performance slightly weighted to the second half.
Looking further ahead, Senior expects to continue to make progress as new programmes and products continue to ramp up, and as the benefits of the implementation of the Senior Operating System and cost saving actions continue to be delivered.
The results for the six-month period to 30 June 2018 will be announced on Monday 30 July 2018.
Conference Call
There will be a call for investors and analysts at 8.30am BST today. The dial-in details are as follows:
International access number: +44 (0)20 3003 2666
UK toll free number: 0808 109 0700
Password: Senior
Further information
Bindi Foyle | Group Finance Director, Senior plc | +44 (0) 1923 714 725 |
Gulshen Patel | Director of Investor Relations, Senior plc | +44 (0) 1923 714 722 |
Philip Walters | Finsbury | +44 (0) 20 7251 3801 |
About Senior
Senior is an international manufacturing group with operations in 14 countries. It is listed on the main market of the London Stock Exchange (symbol SNR). Senior designs, manufactures and markets high technology components and systems for the principal original equipment producers in the worldwide aerospace, defence, land vehicle and energy markets. Further information on Senior plc may be found at: www.seniorplc.com
Cautionary Statement
This announcement contains certain forward-looking statements. Such statements are made by the Directors in good faith, based on the information available to them at the time of the announcement, and they should be treated with caution due to the inherent uncertainties underlying any such forward-looking information.