Aircraft parts maker expects demand to rise
Print Edition
Senior Plc, a maker of aircraft parts and auto components, said it expects higher demand in 2014 as big customers Airbus Group NV and Boeing Co look to ramp up production.
Airbus, earlier known as EADS, said last month that it intends to increase production of its jetliners — in stride with arch-rival Boeing’s plans.
Senior, which makes hydraulic components, seal assemblies and aircraft wall panels, said it expects an increase market share helped by contracts won by its Thailand operations for parts to be used in the Airbus A350 XWB and the Boeing 787.
However, the company, which gets more than half of its revenue from the United States, warned that strengthening of the pound would continue to hurt profit in 2014.
The pound has gained 1.5 percent against the dollar this year and is set to rise further as the British manufacturing sector grows at a fast clip.
“I think once it (the result) is digested the stock will recover,” N+1 Singer Capital Markets analyst Jon Lienard said.
Senior’s adjusted pretax profit rose to 98.1 million pounds (US$164.4 million) in the year ended on December 31 from 91.1 million pounds a year earlier. Revenue increased 6 percent to 775.1 million pounds.
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