SNR Senior Plc

RNS Number:2473L
Senior PLC
8 October 2001

8 October 2001



Senior plc Trading Update



Whilst Senior continues to evaluate the impact of the horrific events of 11
September, it is probable that they will have an adverse effect on the
immediate prospects for the Group.  The exact nature and extent of the impact
is, however, currently very unclear.



We will continue to keep shareholders updated as the prospects for the Group
become clearer.  In the meantime, in this period of unparalleled uncertainty,
we are taking early action in order that the long-term prospects for the Group
are protected.



The Group is undertaking a thorough review of overheads which is resulting in
cost reductions already being made.  Operational rationalisations are being
assessed.  Capital expenditure is being restricted and discretionary costs are
being curtailed.  These actions include headcount reductions which will
continue to be made in line with falling demand.



This programme is expected to result in one-off costs of about #2.5m which
will largely be incurred before the end of this year.



The third quarter, containing the summer holiday period, recorded underlying
earnings per share of 1.03p (first half 2001: 3.83p) with net debt at the end
of September at #141.7m (June 2001: #148.3m).  Net debt, before the impact of
future disposals, is anticipated to fall further during the remainder of the
year.



An interim dividend of 1.84p was declared, prior to the events of 11
September, for payment on 30 November to shareholders on the register on 2
November.  The final dividend for 2001 will be reviewed in light of the
financial outcome for the full year and taking into account the Board's desire
to return the dividend cover to more traditional levels.



The Group will continue to keep its shareholders informed, as the outcome of
this unprecedented situation becomes more apparent.



Enquiries:


Senior

Graham Menzies         Group Chief Executive              01923 714702

Mark Rollins           Group Finance Director             01923 714738


Finsbury

James Murgatroyd                                          020 7251 3801



Internet users will be able to view this announcement, together with other
information about Senior plc, on the web site: www.seniorplc.com You may
receive further Senior plc News Releases by post, fax or e-mail.  If you would
like to change from the current method please contact Lisa Johnstone at
Finsbury Group, at the telephone number above, or e-mail your request to her
at Lisa.Johnstone@finsbury.com



Note to Editors:



Senior is an international manufacturing group with annual sales of nearly #
500m and with operations in 18 countries.



Senior designs, manufactures and markets high technology components and
systems for the principal original equipment producers in the worldwide
aerospace, automotive and specialised industrial markets.



Senior's policy is to enhance shareholder value by improving operating
performance and customer service levels and by developing its market position
in the aerospace and automotive industries.

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