Senior Plc logo is seen displayed in this illustration taken April 10, 2023. REUTERS
April 22 (Reuters) – Aerospace and defence supplier Senior Plc on Wednesday said it expects its 2026 performance to be “comfortably better” than prior expectations after strong demand in the first quarter offset weaker sales at its Flexonics industrial unit.
The improved forecast comes amid a planned 1.4 billion-pound ($1.89 billion) takeover by a consortium comprising Tinicum and Blackstone.
The engineering firm benefitted from increased production of commercial aircraft, as customers such as Boeing seek to ramp up production, alongside higher defence spending and better pricing.
Here are some details about its performance and forecast:
- In the first quarter ended March 2026, group revenue increased 2.5% on a constant currency basis.
- The aerospace division reported a 9.7% jump in quarterly revenue, aided by growth across large commercial, regional and business jets, as well as robust defence demand.
- However, Flexonics’ quarterly revenue fell 6.2% due to lower petrochemical sales, although land vehicle demand exceeded management expectations, Senior said.
- The company expects full-year performance exceed prior expectations, despite ongoing geopolitical and macroeconomic uncertainties.
($1 = 0.7396 pounds)
Reporting by Raechel Thankam Job in Bengaluru; Editing by Sonia Cheema
