Senior trades in line with expectations during Q1
By Iain Gilbert
Date: Wednesday 20 Apr 2022
(Sharecast News) - Manufacturing company Senior said on Wednesday that first-quarter trading had been in line with expectations, with demand across the group's core markets improving as expected.
Senior stated that overall, trading in the quarter was in line with expectations, as group revenues grew 12% year-on-year on a constant currency basis.
The London-listed firm's aerospace division saw "improved activity" in civil aerospace, with single-aisle and business jet programmes driving growth, while defence remained broadly stable, and trading in its flexonics division benefited from growth in the truck, off-highway, and power and energy markets.
"Overall, demand across our core markets is improving as expected and we anticipate this continuing in 2022 and beyond. The impact of the industry-wide supply chain constraints and inflationary pressures continue to be managed diligently. As such, outlook for the group for 2022 remains unchanged and the board anticipates good progress in 2022 as we continue the multi-year recovery," said Senior.
"Over the medium-term, we remain committed to delivering a strong recovery across our aerospace and flexonics divisions, driving the group ROCE to a minimum of 13.5% in line with our previously stated ambition."
As of 1015 BST, Senior shares were up 1.09% at 129.40p.
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