Positive trading maintained at Senior

Aerospace engineer Senior said positive trading reported in October has continued, with adjusted pre-tax profit in line with expectations in both October and November.

Aerospace engineer Senior said positive trading reported in October has continued, with adjusted pre-tax profit in line with expectations in both October and November.

In its aerospace division, which accounts for 64% of first half group sales, it said visibility for build rates on existing aircraft programmes remains good and underlying market demand has consequently been largely as expected.

Advertisement - Article continues below

Senior added that the market for large commercial aircraft remains strong, with Boeing and Airbus increasing their aircraft build-rates broadly as planned whilst continuing to report combined orders in excess of deliveries.

However volumes on a number of the group's military programmes have started to decline as government budgetary restraints come into effect.

Its flexonics division, which makes up 36% of group sales, has seen largely unchanged conditions from those reported in October.

The division continues to benefit from healthy shipments of large expansion joints in the industrial sector but being impacted by weakness in the European passenger vehicle market, it said.

Senior said demand in the North American truck market has remained satisfactory, but at lower levels than earlier in the year.

It added that the integration of GA is proceeding as planned.

"With market conditions largely as anticipated, the board continues to expect 2012 adjusted profit before tax to be in line with its previous expectations and, assuming no further deterioration in market conditions, to make further progress in 2013 and beyond," Senior said in a company update.

Net debt stood at £87m at the end of November compared to around £93m at the start of the year. Cash generation remains strong, it said.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

UK Economy

What bounce back loans can tell us about how we’ll pay for all this

The government will guarantee emergency "bounce back loans" for small businesses hit by Covid-19. Inevitably, many businesses will default. And there'…
1 Jun 2020

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020