26th Apr 2018 09:49
LONDON (Alliance News) - Senior PLC on Thursday said it has met expectations since the start of 2018, while the order book for "most" businesses remains positive.
Senior is a manufacturer of high-technology components and systems for the aerospace, defence, vehicle and energy markets.
The company said activity in the large commercial aircraft industry remains positive, though this is being partially offset by a decrease in military aircraft. There is, Senior added, a continued ramp-up in the production of newer aircraft such as the 737 MAX, the A320neo, the A350, and the C Series.
Trading in Senior's Flexonics division was boosted by growth in the truck, off-highway, and upstream oil and gas markets, which was slightly mitigated by a fall in passenger vehicles. Downstream oil and gas remained flat, it said.
Looking forward, Senior said it order book is strong across most businesses and it is expecting both of its divisions to improve. Performance will be weighted slightly to the second half in 2018, it said.
Results for the first half of 2018 will be released on July 30. Shares were down 0.8% on Thursday at 289.20 each.
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