REG - Senior PLC - Trading Update Q1 2023

SeniorAnnouncement

20/04/2023 07:00

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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

 Bindi Foyle            Group Finance Director, Senior plc          +44 (0) 1923 714 725
 Gulshen Patel          Director of Investor Relations, Senior plc  +44 (0) 1923 714 722
 Richard Webster-Smith  FGS Global                                  +44 (0) 7796 708 551

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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