24th Apr 2025 13:21
(Alliance News) - Senior PLC on Thursday said it has made a "strong start to the year" as revenue increased in the first quarter.
The Hertfordshire, England-based engineering firm said in the three months to the end of March revenue rose 3% at constant currency from a year ago.
Senior said Aerospace revenue rose 4% in the first quarter, driven by growth in civil aerospace.
It said Flexonics revenue was similar to the prior year, as downstream oil and gas performance offset lower sales to upstream oil and gas customers.
Senior said the sale of its Aerostructures business has made good progress, with negotiations ongoing.
The firm said the direct impact of US tariffs on the company is limited and manageable, but it remains mindful of the potential broader macroeconomic impact on the market sectors it operates in.
Senior left its full-year guidance unchanged as it anticipates "good growth" for 2025 in line with expectations.
The company noted that it remains on track for the full year to deliver Aerostructures operating profit between GBP9 million and GBP11 million, with the majority of it expected to be earned in the second half of the year.
It expects Flexonics performance to be similar to 2024, with "good growth" in Aerospace due to increasing aircraft build rates, operational efficiency benefits and improved contract price.
Senior shares were up 4.1% to 125.80 pence in London on Thursday afternoon.
By Olivia Mason-Myhill, Alliance News reporter
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