High technology components manufacturer Senior Plc said on Thursday that it had seen "stronger than expected trading" following its November update, most notably in its aerospace unit, and now expects full-year adjusted pre-tax profits to be "comfortably above previous expectations".
Since the trading update, Senior also said it has taken action and reduced its cost base in certain Flexonics operations, noting that the related restructuring costs were being treated as adjusting items and will be announced at the time of its full year results.
"As a result, the board anticipates full year 2025 group performance to be comfortably above previous expectations," said Senior, which also noted that while it was still early in the year, trading in January 2026 has "started well".
Senior added that initial cash proceeds from the sale of its Aerostructures business, along with strong cash generation, had supported deleveraging, with net debt anticipated to be below £80m at the end of FY25, down from £153m at the end of FY24. FY25 leverage was expected to be below 1.0x net debt to underlying earnings, down from 1.8x at the end of 2024.
Reporting by Iain Gilbert at Sharecast.com