21st Apr 2016 06:44
LONDON (Alliance News) - Aerospace and defence components manufacturer Senior PLC on Thursday said it anticipates better aerospace sales in the second half but said its Flexonics arm continues to face a challenging market.
Senior said activity in its aerospace unit was in line with its expectations in the first quarter of 2016, with sales rising thanks to new deliveries on the A320neo jet and ramp-up of A350 aircraft production by Airbus.
Flexonics, which makes expansion joints, flexible metal and teflon hoses and cryogenic equipment for pressure and piping systems, faced a more difficult quarter, Senior said. The division has been hit by challenging conditions in truck and off-highway markets and the industrial sector.
Senior anticipates aerospace profit will continue to grow and get stronger in the second half of 2016, but the outlook for Flexonics remain uncertain, with that unit focused on cutting costs and increasing efficiencies.
Senior said its adjusted pretax profit guidance for the full year remains unchanged.
By Sam Unsted; [email protected]; @SamUAtAlliance
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