UK's Senior expects to hit medium-term targets ahead of schedule
UK's Senior expects to hit medium-term targets ahead of schedule Aug 3 (Reuters) - British engineering firm Senior SNR.L on Monday said it expects to achieve its medium-term targets ahead of schedule, citing resilient demand across its aerospace and fluid systems businesses.
Here are some details:
Senior, which is set to be taken over by a consortium comprising Tinicum and Blackstone BX.N in a £1.4 billion ($1.88 billion) deal, previously targeted at least double-digit adjusted operating margins in the medium term.
The company did not specify a timeline for achieving its targets.
Senior reported a 38% growth in adjusted profit before tax at £34.8 million for the half year ended June 30.
The company, which counts original equipment manufacturers like Boeing BA.N and Airbus AIR.PA 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.
"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.
The company also said its takeover is expected to be completed by the end of 2026.
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(Reporting by Simone Lobo in Bengaluru; Editing by Sonia Cheema)
((Simone.Lobo@thomsonreuters.com, +919920570373))