Senior PLC Pre-Close Trading Update (7803B)
June 21 2016 - 2:00AM
UK Regulatory
TIDMSNR
RNS Number : 7803B
Senior PLC
21 June 2016
Pre-Close Trading Update
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, announces a trading update before entering a close period
on 1 July 2016.
In the first half, the Group's activity in the Aerospace
Division is anticipated to increase in line with expectations,
resulting from additional content on new aircraft. As expected,
margins in the Aerospace Division will be lower in H1 2016 as the
ramp-up of new production programmes continues.
In the Flexonics Division, Q2 activity continues to reflect the
challenging market conditions in truck and off-highway and oil and
gas markets. While the Division is continuing to focus on cost
management and efficiency initiatives, the reduction in volumes and
change in mix compared to 2015 means that H1 margins are likely to
be lower than expected, in the range of 8% - 9%.
Outlook
Consistent with the position set out in the update of 21 April
2016, revenue in the Aerospace Division is expected to grow in 2016
with a stronger profit in the second half, driven by increasing
revenues and operational improvements.
In the Flexonics Division, following the most recent market and
customer data for the heavy truck and oil and gas sectors, it is
anticipated that revenues in the second half of 2016 will be lower
than the first half. We continue to focus on cost initiatives and
these are anticipated to provide some improvement in Flexonics
profits in the second half.
The results for the six-month period to 30 June 2016 will be
announced on Monday 1 August 2016.
Conference Call
There will be a call for investors and analysts at 8.00 a.m.
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
Group Finance Director, +44 (0) 1923
Derek Harding Senior plc 714 722
+44 (0) 20 7251
Philip Walters Finsbury 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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