Senior order books 'strong' amid anticipated headwinds

Senior updated the market on its trading for the period since 1 January on Thursday, reporting that it had been in line with expectations.

The FTSE 250 high-technology components manufacturer was scheduled to hold its annual general meeting on Friday.

It said activity in the large commercial aircraft sector continued to be positive, partially offset by the decrease in military, as anticipated.

There continued to be a ramp-up of production volumes on the newer programmes such as the 737 MAX, A320neo, A350 and C Series.

Trading in the Flexonics division benefited from growth in the truck, off-highway and upstream oil and gas markets, partially offset by the decrease in passenger vehicles, which was also expected.

Downstream oil and gas remained flat.

“Order books across most of our businesses remain strong and we expect to see improved performance in both divisions consistent with the position set out in the announcement of 26 February,” the Senior board said in its statement.

“Overall, at current exchange rates, the Board expects good progress to be made in 2018 with performance slightly weighted to the second half.”

Looking further ahead, Senior expected to continue to make progress as new programmes and products continued to ramp up, and as the benefits of the implementation of the Senior Operating System and cost saving actions continue to be delivered.

“The results for the six-month period to 30 June will be announced on 30 July.”