Senior PLC Trading Statement (6913I)
November 28 2018 - 1:01AM
UK Regulatory
TIDMSNR
RNS Number : 6913I
Senior PLC
28 November 2018
Trading Update
Senior plc ("Senior"), an international manufacturer of high
technology components and systems, principally for the worldwide
aerospace, defence, land vehicle and energy markets, issues this
trading update for the ten months ended October 2018 (the
"Period").
Markets and Divisions
Trading in the Period has been in line with expectations.
The Aerospace Division continues to benefit from positive
activity in the large commercial aircraft sector, as production
ramps up on the newer programmes such as the 737 MAX, A320neo and
A350. We continue to make good progress on new product
introductions on programmes won over the past year and this
investment activity will continue into the first half of 2019.
Construction of the new Aerospace facilities in Malaysia and in
Massachusetts, USA are proceeding well and will be fully
operational during the second half of 2019 and first half of 2020,
respectively.
Trading in the Flexonics Division was also as expected,
benefiting from growth in the truck, off-highway and upstream oil
and gas markets. This was partially offset by the anticipated
decline in passenger vehicle.
Outlook
Overall, at current exchange rates, and consistent with the
position set out in the Interim Results announcement of 30 July
2018, the Board expects good progress to be made in 2018.
Looking further ahead, whilst we continue to invest in new
programmes and products, Senior expects to make progress as these
programmes ramp up, as new facilities commence operations, and as
the benefits of the implementation of the Senior Operating System
and cost saving actions continue to be delivered.
The 2018 full year results will be announced on Monday 4 March
2019.
Conference Call
There will be a call for investors and analysts at 8.30am GMT
today. The dial-in details are as follows:
International access number: +44 (0)20 3003 2666
UK toll free number: 0808 109 0700
Password: Senior
Further information
Group Finance Director, Senior
Bindi Foyle plc +44 (0) 1923 714 725
Director of Investor Relations,
Gulshen Patel Senior plc +44 (0) 1923 714 722
Philip Walters Finsbury +44 (0) 20 7251 3801
About Senior
Senior is an international manufacturing group with operations
in 14 countries. It is listed on the main market of the London
Stock Exchange (symbol SNR). Senior designs, manufactures and
markets high technology components and systems for the principal
original equipment producers in the worldwide aerospace, defence,
land vehicle and energy markets. Further information on Senior plc
may be found at: www.seniorplc.com
Cautionary Statement
This announcement contains certain forward-looking statements.
Such statements are made by the Directors in good faith, based on
the information available to them at the time of the announcement,
and they should be treated with caution due to the inherent
uncertainties underlying any such forward-looking information.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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