Trading Statement
June 28 2002 - 3:00AM
UK Regulatory
RNS Number:8632X
Senior PLC
28 June 2002
28 June 2002
SENIOR PLC - PRE CLOSE PERIOD STATEMENT
Prospects for the Group remain in line with the statement made at the AGM on 2
May 2002.
In Aerospace, sales were down 20% in the first quarter and are expected to be
down by 18% in the first half, year on year. Second half comparisons are
expected to be a little better as rescheduling from commercial customers comes
to an end and defence and military demand continues to improve.
In Automotive, demand in the first half has been ahead of expectation,
particularly in the USA. We will have to wait and see whether the general
economic uncertainty will have an effect on the demand level in the second half.
In the Industrial Division, demand in North America has been strong but demand
in Europe weak, particularly in Germany. We continue to work on making
disposals amongst the European operations within this division.
The Board currently expects that the results for the year will be in line with
its expectations and that there will be a further reduction in debt during the
year.
Enquiries:
Senior
Graham Menzies Group Chief Executive 01923 714702
Mark Rollins Group Finance Director 01923 714738
Finsbury
James Murgatroyd 020 7251 3801
Charlotte Festing
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 around £450m
and with operations in 15 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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