Senior sees FY slightly ahead of expectations

17th Dec 2009 08:26

Engineering group Senior said it anticipates that full year adjusted pre-tax profit will be slightly ahead of company expectations.The group, which manufactures components and systems for aerospace, defence, land vehicle and energy markets, said a strong performance at its Flexonics unit and ongoing cost reduction measures boosted the group's performance.Its Flexonics unit, which makes components for car diesel engines, saw a strong rise in demand in recent months.Senior said cash generation has remained strong, with net debt of £108.8m at the end of November compared with £174.5m at the start of the year."Looking ahead, the group's markets are showing some signs of stability, although the first quarter of 2010 is expected to see lower production volumes in the North American commercial vehicle engine market following the strong performance in the final quarter of 2009," Senior said in a company statement.