Senior sees revenues surge 20 per cent

British aero engineer Senior is benefiting from the huge order backlog of the world's major plane makers, Boeing and Airbus.

The company, which announced its half-year results on Monday, makes gas turbine engines and other components for aeroplanes, as well as land vehicle emission controls.

Revenue to the end of June was £377.2m, up 20% on the same period of 2011 while adjusted profit before tax came in at £45.5m, also 20% up on the prior year.

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Operating margins declined 10 basis points (0.1%) to 13.5%, while the interim dividend, in line with profits, has been boosted 20% to 1.38p.

Boeing and Airbus have 8,000 orders in place, enough to keep them busy for the next six years and they both need firm's like Senior to provide components over that build cycle.

Commenting on the results, Mark Rollins, Chief Executive of Senior, said the firm "cannot expect to be immune from ongoing macroeconomic uncertainties..." but maintained the general outlook "remains encouraging."

The market wasn't happy though, at 8:54 the shares had fallen 3%.

BS