Senior PLC Trading Update Q1 2023 (8097W)
20 Abril 2023 - 1:00AM
UK Regulatory
TIDMSNR
RNS Number : 8097W
Senior PLC
20 April 2023
Senior plc: Q1 2023 Trading Update
Trading in line. Full year outlook in line with Board's
expectations
Ahead of its Annual General Meeting on Friday 21 April 2023,
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 2023 (the "Period").
Key points
-- Trading in the Period in line with expectations
-- Market dynamics continue to be favourable
-- Outlook for the year remains unchanged; Board anticipates
strong growth in 2023 in line with its expectations
Market & Divisions
Overall, trading in the Period has been in line with
expectations with Group revenue growing 16% year on year on a
constant currency basis. Both our Aerospace and Flexonics divisions
contributed to the year-on-year improvement, with growth driven by
higher sales in our commercial aerospace, land vehicle and power
& energy markets.
Outlook
Overall, market dynamics continue to be favourable, with the
strong commercial aerospace recovery continuing and other important
markets remaining buoyant. Demand is holding up well, though we
remain mindful of the ongoing supply chain pressures in aerospace,
as well as the broader macro-economic situation and geopolitical
uncertainty.
We continue to anticipate that trading in our Aerospace Division
will be more weighted to the second half of the year, due to
aircraft build rates increasing through the year, and the supply
chain challenges in aerospace, including the fire at one of our key
suppliers in Thailand as reported with our full year results. We
have made good progress with our customers and suppliers to
mitigate the impact of the fire and work will continue throughout
the rest of the year to address the remaining issues.
In terms of the outlook for the Group for 2023, the Board
continues to anticipate strong growth for the Group in 2023 in line
with its expectations.
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 FGS Global 551
About Senior
Senior is a FTSE 250 international engineering and manufacturing
Group with operations in 12 countries. It is listed on the main
market of the London Stock Exchange (symbol SNR). Senior's Purpose
is "we help engineer the transition to a sustainable world for the
benefit of all our stakeholders". 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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END
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April 20, 2023 02:00 ET (06:00 GMT)
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