UK engineering firm Senior said its 2021 performance was expected to be in line with expectations as it saw a recovery in its core markets.
The company, which operates in the civil aerospace market, on Friday said annual revenue would be around £659m, adding that annual adjusted pre-tax loss would also be in line with management’s expectations.
Aerospace division revenue was expected to be around 12% lower on a constant currency basis and in the Flexonics division revenue was expected to rise 10% year on year.
Restructuring and cost cutting had improved profitability in both divisions compared with the prior year, Senior said.
“Overall, we are seeing recovery underway in our core markets including civil aerospace and anticipate that continuing in 2022 and beyond. While the impact of the pandemic and industry wide supply chain constraints are still with us, we continue to manage these diligently,” the company added.
