Senior Expects to Hit Medium-Term Targets Ahead of Schedule on Strong Demand
Senior's Performance and Outlook
Aug 3 (Reuters) - British engineering firm Senior on Monday said it expects to achieve its medium-term targets ahead of schedule, citing resilient demand across its aerospace and fluid systems businesses.
Key Details of Senior's Progress
Here are some details:
Acquisition and Financial Targets
• Senior, which is set to be taken over by a consortium comprising Tinicum and Blackstone in a £1.4 billion ($1.88 billion) deal, previously targeted at least double-digit adjusted operating margins in the medium term.
Timeline for Targets
• The company did not specify a timeline for achieving its targets.
Financial Performance Highlights
• Senior reported a 38% growth in adjusted profit before tax at £34.8 million for the half year ended June 30.
Business Segments and Market Demand
• The company, which counts original equipment manufacturers like Boeing and Airbus as its customers, has reported steady demand for aerospace parts.
• Flexonics, which makes cooling systems, fuel‑mixing and distribution equipment, performed ahead of initial expectations, as markets were more resilient than anticipated, Senior said.
Management Commentary
• "With both Aerospace and Flexonics Divisions performing strongly, the Board remains confident of delivering full-year performance in line with the upgraded expectations announced in the July 2026 post-close trading update", CEO David Squires said.
Takeover Timeline
• The company also said its takeover is expected to be completed by the end of 2026.
Additional Information
($1 = 0.7428 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Sonia Cheema)
