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Senior expects continued disruption throughout 2020 after huge half-year loss

In the six months to June 30, revenue was wiped out by a third to £409mln as the pandemic hit

Senior PLC - Senior expects continued disruption throughout 2020

Senior PLC (LON:SNR) said it expects continued disruption in its markets throughout the year.

The civil aerospace market will not return to 2019 levels for several years, the manufacturing and engineering group said, while flexonics is not anticipated to see meaningful improvement before 2021.

READ: Senior slides after second-quarter sales slump

The power and energy segment is expected to see lower demand to continue for the remainder of the year.

The firm said it remains confident in its medium-term outlook due to its investment in low carbon and advanced manufacturing technology, fluid conveyance and thermal management products and diversity of markets.

In the six months to June 30, revenue dropped by a third to £409mln, while Senior swung to a £136mln loss before tax compared to last year’s £26mln profit.

The firm was severely hit by the pandemic and Boeing's temporary halt in 737 MAX production.

Shares slid 8% to 48p early on Monday.

Quick facts: Senior PLC

Price: 57.15 GBX

LSE:SNR
Market: LSE
Market Cap: £239.7 m
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