Senior PLC - Tax and Trading Update
Tax and Trading Update
Senior plc ("Senior" or "the Group"), an international manufacturer of high technology components and systems, principally for the worldwide aerospace, defence, land vehicles and energy markets, issues this tax and trading update for the year ended
Impact of new US tax legislation
Senior notes the Tax Cuts and Jobs Act ("US Tax Reform") enacted on
Over the medium term we anticipate the effect of the US Tax Reform to be broadly neutral for the Group as the benefit from the reduction in the US Federal corporate income tax rate is offset by a widening of the tax base.
We will continue working through and reviewing the full impact of these changes ensuing from a number of complex provisions in the new legislation.
Senior is pleased to report that trading in the Period has been slightly ahead of previous expectations, driven by a good performance in November and December.
In addition the Group will also benefit from a one-off reduction in the effective tax rate for the year ended
The Board therefore expects the Group's 2017 adjusted earnings per share(1) will also be proportionately ahead of previous expectations.
The 2017 full year results will be announced on Monday
(1) Adjusted earnings per share is before amortisation of intangible assets from acquisitions net of tax, loss on disposal net of tax and exceptional tax items.
This announcement contains insider information.
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Group Finance Director,
+44 (0) 1923 714 725
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Director of Investor Relations,
+44 (0) 1923 714 722
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+44 (0) 20 7251 3801
Senior is an international manufacturing group with operations in 14 countries. It is listed on the main market of the
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.
This information is provided by RNS
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