Senior is cautious for land vehicle markets

27th Apr 2011 16:03

Senior, the international manufacturer of high technology components and systems, has reported a "strong" performance for the first quarter of 2011, with results ahead of the same period in 2010. The board believes that underlying drivers of growth in the business remain healthy, especially for the commercial aerospace market, and continues to expect 2011 adjusted profit before tax to be in line with its previous expectations.However, it warned that, "on-going short-term uncertainties principally arising from recent events in Japan lead the board to be slightly cautious on the outcome for the second quarter, particularly in the land vehicle markets". Nevertheless, trading in the group's Aerospace Fluid Systems businesses was encouraging, and operating margins remained healthy across the group. The integration of recently acquired Damar Machine Company is proceeding in line with expectations.Looking further ahead, Senior expects to benefit from the increasing build rate of the Boeing 787 aircraft, following its anticipated entry into service in the third quarter of 2011, as well as from the announced volume increases of Airbus and Boeing's other commercial aircraft.ab