Senior Plc

Senior says on course to make "good progress" in 2018, aided by aerospace division

Senior's aerospace division is benefitting from newer programmes such as the 737 MAX, A320neo and A350

Senior said trading at its Flexonics division was meeting expectations

Senior PLC (LON:SNR) said Wednesday positive activity in its aerospace division and cost-saving efforts are keeping it on track to make “good progress” this year.

The FTSE 250-listed aerospace and automobile engineering group said in a trading update that its aerospace division has been benefitting from activity in the large commercial aircraft sector as production ramps up on newer programmes such as the 737 MAX, A320neo and A350. Related investment activity will continue into the first half of 2019, the company said.

READ: Senior hikes dividend after reporting above-forecast first-half profits, says current trading ahead of expectations

Trading in its Flexonics Division was meeting expectations, aided by growth in the truck, off-highway and upstream oil and gas markets that’s been partially offset by an anticipated decline in the passenger vehicle market.

“Overall, at current exchange rates, and consistent with the position set out in the Interim Results announcement of 30 July 2018, the Board expects good progress to be made in 2018,” said Senior in a statement.

“Looking further ahead, whilst we continue to invest in new programmes and products, Senior expects to make progress as these programmes ramp up, as new facilities commence operations, and as the benefits of the implementation of the Senior Operating System and cost-saving actions continue to be delivered,” it said. 

Quick facts: Senior Plc

Price: £2.01

Market: LSE
Market Cap: £8.46 m

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