Senior SNR looks well set to go on from here looking at the chart. Lovely recent breakout:



Longer term chart shows resistance at around 95p and then 105p which would be medium term SP targets.

2011 First Half Results

The results for the six-month period to 30 June 2011 will be announced on Monday 1 August 2011.

Gone long of SNR solid fundies and chart looks like its about to break up, fingers crossed.



Forward P/E of just over 11 to 2013 very cheap......

Senior PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Arden Partners
13-09-12 BUY 89.50 16.76 4.56 100.00 18.42 5.00
Peel Hunt
11-09-12 BUY 90.48 16.45 4.30 101.52 18.33 4.70
N+1 Brewin
10-09-12 BUY 88.50 16.10 4.30 100.30 18.30 4.90
Shore Capital
07-09-12 HOLD 88.90 16.20 3.80 97.20 17.70 4.50
Westhouse Securities
06-09-12 BUY
Investec Securities
17-08-12 BUY 89.10 16.10 4.30 100.50 18.10 4.70
Fairfax IS
24-07-12 HOLD 88.80 16.10 4.40 95.40 17.30 4.90

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 89.31 16.33 4.28 99.16 18.03 4.78
1 Month Change 0.03 0.02 0.00 0.05 0.02 0.00
3 Month Change -1.24 -0.22 -0.08 -1.68 -0.38 -0.07


GROWTH
2011 (A) 2012 (E) 2013 (E)
Norm. EPS 22.39% 22.05% 10.44%
DPS 21.11% 30.83% 11.66%

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £107.20m £120.91m £131.40m
EBIT £84.20m £99.04m £106.31m
Dividend Yield 1.57% 2.06% 2.30%
Dividend Cover 4.09x 3.82x 3.78x
PER 15.55x 12.74x 11.53x
PEG 0.69f 0.58f 1.10f
Net Asset Value PS 11.82p p p

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 2
Sell 0
Strong Sell 0

Total 8
Digital Look

Ig Index proxy for shorting......

Client Sentiment
100% of IG clients with open positions in this market expect the price to rise

0% of IG clients with open positions in this market expect the price to fall

11 – 50 IG clients have open positions in this market

Broker Buy targets....

Date Company Name Broker Rec. Price Old target price New target price Notes

05 Sep Senior PLC Oriel Securities Buy 206.80 235.00 235.00 Retains
09 Aug Senior PLC Credit Suisse Neutral 206.80 210.00 210.00 Reiterates
30 Jul Senior PLC Jefferies International Buy 206.80 222.00 223.00 Retains
25 Jul Senior PLC N+1 Brewin Buy 206.80 233.00 233.00 Retains
23 Jul Senior PLC Jefferies International Buy 206.80 222.00 222.00 Retains
23 Jul Senior PLC Investec Buy 206.80 250.00 250.00 Retains

Investec lead the way with a 250p SP target.

NORWICH & PETERBOROUGH BUILDING SOCIETY

Broker Brief.....

02 Oct Senior PLC SNR Citigroup Buy 206.55 206.20 230.00 230.00 Reiterates

230p SP TARGET

04 Oct Senior PLC SNR Oriel Securities Buy 204.35 204.20 235.00 235.00 Retains

Disposal helping the SP added a few more....


http://www.investegate.co.uk/Article.aspx?id=201210160700077499160700077499O

Group revenue increased by 3.7% to £450.5m (H1 2015 - £434.5m). This included a favourable exchange rate impact of £21.5m and a beneficial incremental impact from acquisitions of £18.6m. Underlying Group revenue from organic operations was down £24.1m (5.3%) on a constant currency basis as growth from the Aerospace Division was offset by lower Flexonics revenue due to weaker truck and off-highway, and oil and gas markets.

Adjusted operating profit decreased by £9.0m (16.0%) to £47.2m (H1 2015 - £56.2m). This included a favourable exchange rate impact of £2.7m and £2.0m of operating profit contributed by acquisitions. Adjusted operating profit from organic operations decreased by 23.3% on a constant currency basis. Whilst the Group continues to focus on operational improvements, cost management and efficiency initiatives, as previously disclosed, margins in the first half of 2016 were impacted by the reduction in volumes and change in mix in the Flexonics Division, as well as the ramp-up of new aircraft production programmes in the Aerospace Division. These resulted in the Group's adjusted operating margin reducing by 2.4 percentage points to 10.5%.

Adjusted profit before tax decreased to £42.3m (H1 2015 - £52.1m), down 18.8%, or 22.5% on a constant currency basis. Adjusted earnings per share decreased by 18.2% to 8.07 pence (H1 2015 - 9.86 pence).

The Group generated free cash inflow of £17.3m (H1 2015 - £24.7m) after gross investment in capital expenditure of £22.8m (H1 2015 - £23.3m). The level of net debt at the end of June 2016 was £207.3m (December 2015 - £194.6m). This increase was principally due to unfavourable currency movements of £12.2m and £18.3m of dividend payments partly offset by free cash inflow of £17.3m and proceeds on disposal of business of £1.5m. The ratio of net debt to EBITDA at the end of June 2016 was 1.6x, comfortably below the Group's bank covenant level of 3.0x.

Recognising the underlying strength of the business and its future prospects, the Board has approved an interim dividend of 1.95 pence per share, an increase of 6.0% over the prior year (H1 2015 - 1.84 pence). It will be paid on 30 November 2016 to shareholders on the register at the close of business on 21 October 2016.