Senior boosted by airliner programmes

LONDON (SHARECAST) - Aerospace and lorry hydraulics group Senior has upped its profits expectations again and now expects to hit the top end of market forecasts this year. 

A stronger than expected third quarter contribution from the Flexonics Division and a solid outlook for the final quarter prompted the upbeat statement. 

In aerospace, Boeing and Airbus delivered a combined 726 Model Aircraft in the first nine months of 2010 (nine months 2009: 717 aircraft). 

The combined Boeing/Airbus gross year-to-date order intake of 824 aircraft was ahead of deliveries and well above the 330 aircraft ordered during the same period of 2009. This renewed market strength has led Boeing and Airbus to announce future build-rate increases for many of Senior's key aircraft programmes,Senior said. 

The Flexonics division performed better than anticipated during the third quarter with the improvement, from a very low base, in the European and North American heavy truck markets benefiting the group. 

Market forecasts for 2010 adjusted profit before tax are in a range of £59.2m to £63.0m
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