Senior full-year profit to beat expectations

2nd Aug 2010 07:52

Senior, the manufacturer of high technology components and systems, said 2010 adjusted pre-tax profit are anticipated to be comfortably ahead of market expectations. In the first half, adjusted pre-tax profit rose to £32.5m compared with £23.5m last year, while revenue was slightly higher at £287.7m from £275.9m last time.The group said it upped its interim dividend by 11% to 1.00 pence to 'reflect its confidence in the future prospects for the business.'Chairman Martin Clark said: "The benefits of increased volumes, combined with the effects of the cost reduction measures implemented last year and an improved product mix, have enabled the Group to deliver an impressive 38% increase in adjusted pre-tax profit and to remain strongly cash generative." "The first-half performance and healthy near-term outlook now lead the Board to expect 2010 adjusted profit before tax to be comfortably ahead of market expectations."