Senior PLC Q1 2022 Trading Update (6653I)

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RNS Number : 6653I

Senior PLC

20 April 2022

Senior plc: Q1 Trading Update

Ahead of its Annual General Meeting on Thursday 21 April, Senior plc ("Senior" or "the Group"), an international manufacturer of high technology components and systems, principally for the worldwide aerospace & defence, land vehicle and power & energy markets, today issues this trading update for the three months ended March 2022 (the "Period").

Key points

 
 --   Trading in the Period has been in line with expectations 
 --   Demand across core markets is improving as expected 
 --   Supply chain constraints and inflationary pressures continue 
       to be managed diligently 
 --   Outlook for the year remains unchanged; Board anticipates 
       good progress in 2022

Market & Divisions

Overall, trading in the Period has been in line with expectations with Group revenue growing 12% year on year on a constant currency basis.

The Aerospace Division saw improved activity in civil aerospace with single aisle and business jet programmes driving growth, while defence remained broadly stable.

Trading in the Flexonics Division benefited from growth in the truck, off-highway and power & energy markets.

Outlook

Overall, demand across our core markets is improving as expected and we anticipate this continuing in 2022 and beyond. The impact of the industry wide supply chain constraints and inflationary pressures continue to be managed diligently. As such, outlook for the Group for 2022 remains unchanged and the Board anticipates good progress in 2022 as we continue the multi-year recovery.

Over the medium-term we remain committed to delivering a strong recovery across our Aerospace and Flexonics Divisions, driving the Group ROCE to a minimum of 13.5% in line with our previously stated ambition.

Further information

 
                          Group Finance Director, Senior     +44 (0) 1923 714 
 Bindi Foyle               plc                                725 
                          Director of Investor Relations,    +44 (0) 1923 714 
 Gulshen Patel             Senior plc                         722 
                                                             +44 (0) 7796 708 
 Richard Webster-Smith    Finsbury                            551

About Senior

Senior is an international manufacturing group with operations in 12 countries. It is listed on the main market of the London Stock Exchange (symbol SNR). Senior designs and manufactures high technology components and systems for the principal original equipment producers in the worldwide aerospace & defence, land vehicle and power & 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.

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