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Senior to make 'good progress' in 2018 after trading in line with expectations

Wednesday, 28th November 2018
Component supplier Senior said it expected to make 'good' progress in calendar 2018 after trading in the first 10 months of the year met its expectations.

The company said its aerospace division continued to benefit from positive activity in the large commercial aircraft sector.

'We continue to make good progress on new product introductions on programmes won over the past year and this investment activity will continue into the first half of 2019,' it added.

Construction of the new aerospace facilities in Malaysia and Massachusetts were proceeding well and were expected to be fully operational during the second half of 2019 and first half of 2020, respectively.

Trading in the Flexonics division, meanwhile, was also as expected, benefiting from growth in the truck, off-highway and upstream oil and gas markets.

That growth, however, was partially offset by an anticipated decline in passenger vehicle.

'Overall, at current exchange rates, and consistent with the position set out in the interim results announcement of 30 July, the board expects good progress to be made in 2018,' Senior said.

'Looking further ahead, whilst we continue to invest in new programmes and products, Senior expects to make progress as these programmes ramp up, as new facilities commence operations, and as the benefits of the implementation of the Senior operating system and cost saving actions continue to be delivered.'

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