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Senior PLC on Monday backed its full-year expectations amid ‘robust’ market demand. The Hertfordshire, England-based auto and aircraft components and systems manufacturer said that, in the 10 months to October 31, trading was in line with its expectations, citing year-on-year revenue growth of 15% at constant currency, underpinned by a ‘healthy’ book-to-bill ratio of 1.20. Senior noted that its Aerospace and Flexonics divisions contributed to the boost, ‘reflecting the strength in our core markets and our positioning on key growth platforms across both divisions’, it said. Additionally, Senior benefitted from ‘robust growth’ in commercial aerospace, land vehicle and power and energy markets, it said. Looking ahead, Senior said its full-year expectations remain unchanged, eyeing strong growth in the Flexonics division in 2023. Nevertheless, it said it remains ‘mindful of market commentary around some markets moderating in 2024.’ As for the Aerospace division, which provides parts for aircraft makers such as Boeing Co, Senior said it continues to expect growth in 2024 as supply chain challenges ease. Shares in Senior were up 1.5% at 167.40 pence each in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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