3rd Aug 2026 12:09
(Alliance News) - Senior PLC on Monday said growth in civil aircraft build rates in its Aerospace unit is expected to drive "continued strong progress" as it reported a sharp rise in adjusted interim profit.
The Hertfordshire, England-based components and systems manufacturer said it swung to a pretax loss of GBP5.6 million in the first half of 2026, from a profit of GBP22.8 million a year ago.
Adjusted pretax profit, however, jumped 38% to GBP34.8 million from GBP25.3 million.
For adjusted figures, the company, among others, excluded GBP39.0 million in costs associated with corporate undertakings for the first half of 2026, compared to just GBP300,000 a year prior.
Of the GBP39.0 million in costs, GBP34.7 million relates to contingent adviser and employee-related remuneration costs associated with Senior being acquired by Zeus UK Bidco Ltd, a consortium led by Tinicum Inc and Blackstone Inc.
In April, Senior agreed to a 300 pence per share offer from the consortium, valuing the firm at GBP1.28 billion on a fully diluted basis, with an implied enterprise value of GBP1.40 billion.
Under the agreement, shareholders will receive 297.85p in cash and a final dividend of 2.15p per share for every share in Senior held.
Senior, citing its incoming takeover, declared no interim dividend, compared to 0.85 pence per share a year prior.
Operating profit surged 30% to GBP37.7 million from GBP29.0 million, while adjusted operating profit rose 25% to GBP39.1 million from GBP31.2 million.
Revenue rose 5.3% to GBP390.8 million from GBP371.2 million.
The company said its Aerospace division continued its positive momentum, with order intake, sales, profitability, and operating margins showing "excellent growth".
Looking ahead, Chief Executive Officer David Squires said: "In Aerospace, growth in civil aircraft build rates and increased demand across other core markets is expected to drive continued strong progress in 2026 and beyond. Flexonics's expectations for the full year have improved as the year has progressed, driven by a robust North American Heavy-Duty truck market and strong operational performance.
"With both Aerospace and Flexonics divisions performing strongly, the Board remains confident of delivering full-year performance in line with the upgraded expectations announced in the July post-close trading update."
Senior shares rose 0.7% to 292.50 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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