TIDMSNR 
 
RNS Number : 6252U 
Senior PLC 
29 June 2009 
 

Senior plc 
Pre-Close Period Statement 
Senior plc ("Senior" or "the Group"), 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 
six-month period to 30 June 2009. 
Trading 
Overall, the Group continues to trade satisfactorily, with profitability in line 
with the Board's expectations for the first half of 2009.  Cash generation has 
been strong and, combined with currency benefits, has resulted in the level of 
net debt reducing significantly more than expected during the six-month period. 
Markets and Operations 
The second quarter of 2009 saw the Group's markets remaining largely unchanged 
from the conditions experienced in the first quarter, as described in the 
Interim Management Statement ("IMS") issued on 22 April 2009.  The most notable 
exceptions were an ongoing modest improvement in production of land vehicles 
outside of North America and a further weakening of the business jet market. 
 The bankruptcy of General Motors and Chrysler in the period had little effect 
on the Group. 
Boeing and Airbus still have seven-year order books but reported a combined net 
order in-take of only 21 aircraft (97 orders less 76 cancellations) for the 
first five months of the year.  Subsequently, at the Paris Airshow, Airbus 
announced commitments (firm orders and memorandum of understanding agreements) 
for a further 127 aircraft.  Boeing recently identified the need to make a minor 
modification to the 787 aircraft which has delayed its first flight.  However, 
Boeing does not currently expect the modification to impact the rate of 
production.  Importantly for Senior, the US Government recently announced that 
the Joint Strike Fighter remains a high priority future military programme. 
Further to the measures detailed in the IMS in April, the Group's headcount was 
4,795 at the end of May, a 19% reduction from the 5,936 at the end of September 
2008, reflecting the decisive action taken in light of the weak land vehicle and 
business jet markets.  Overall, no significant changes in headcount are expected 
for the remainder of the year. 
Outlook 
Senior is strongly cash generative and financed for the longer-term.  Whilst the 
Group's end markets are expected to remain challenging for the foreseeable 
future, Senior is gaining market share, through excellent operational 
performance and its comparative financial strength, and can look forward 
to significant future organic growth from new aircraft programmes such as Boeing 
787 and Joint Strike Fighter.  Consequently, the long-term prospects for the 
Group remain encouraging. 
The results for the six-month period to 30 June 2009 will be announced on Monday 
3 August 2009. 
Further information 
+----------------+---------------------------------+----------------------------+ 
| Mark Rollins   | Group Chief Executive, Senior   | +44 (0) 1923 714 738       | 
|                | plc                             |                            | 
+----------------+---------------------------------+----------------------------+ 
| Simon Nicholls | Group Finance Director, Senior  | +44 (0) 1923 714 722       | 
|                | plc                             |                            | 
+----------------+---------------------------------+----------------------------+ 
| Clare Strange  | Finsbury Group                  | +44 (0) 20 7251 3801       | 
+----------------+---------------------------------+----------------------------+ 
About Senior 
Senior is an international manufacturing group with operations in 11 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 company news service from the London Stock Exchange 
   END 
 
 TSTKGGZVKVFGLZM
Senior (LSE:SNR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Senior Charts.
Senior (LSE:SNR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Senior Charts.