Senior 2018 interim results
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Trading slightly ahead of expectations; full year guidance unchanged |
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Margin progression in both Aerospace (+90 bps) and Flexonics (+130 bps) Divisions |
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Strong free cash inflow of £32.2m |
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Interim dividend increased by 6.8% to 2.19 pence per share |
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The Group is well positioned to deliver good growth |
Commenting on the results, David Squires, Group Chief Executive of Senior plc, said:
"Trading across the Group in the first half of 2018 has been slightly ahead of expectations with margin progression in both Aerospace and Flexonics and the Group delivered another strong cash performance.
Order books across most of our business remain strong with a book-to-bill of 1.2x in the first half of 2018. For the full year 2018, we anticipate year-on-year margin progression for the Group. At current exchange rates, the Board's expectation of making good progress in 2018 is unchanged, with performance still expected to be slightly weighted to the second half.
Looking further ahead, Senior is competitively positioned. We expect to make continued improvement as more new programmes and products enter production and ramp-up, and as the benefits from implementation of the Senior Operating System and cost saving actions continue to be delivered."
