Senior raises full year outlook on strong aerospace demand

Manufacturer Senior, which makes products for the aerospace and industrial sectors, said it expected full-year adjusted pretax profit to be ahead of earlier estimates on strong demand from its commercial aerospace market and a recovery in global truck markets.

In a statement, the firm said: “2011 has seen further positive news for the large commercial aerospace market, with Boeing and Airbus announcing further increases in the build rates for their main platforms.”

Its customers include Boeing, Siemens and Airbus.

The company’s aerospace unit, which makes parts of aircrafts such as the engine pylon, struts, wing box, and wings, accounts for nearly 60 per cent of its total sales.

Analysts are expecting Senior to post a pretax profit of £75m-£86.9m for 2011, according to the company’s website.

First-half sales were marginally higher than anticipated helped by a recovery in global truck markets, the company said.

Senior shares, which have gained a quarter of their value over the past year, closed at 162.5 pence on the London Stock Exchange, valuing the company at over 650 million pounds.