LONDON (dpa-AFX) - Senior plc (SNR.L), a manufacturer of high technology components and systems, reported Monday that its first-half profit before tax declined 16 percent to 26.5 million pounds from 31.4 million pounds last year.
Basic earnings per share were 4.81 pence, down 18 percent from 5.90 pence a year ago.
Adjusted profit before tax was 40.7 million pounds, compared to 39 million pounds last year. Adjusted earnings per share were 7.84 pence, compared to 7.36 pence last year.
Revenue for the period increased 11 percent to 580.4 million pounds from 523.3 million pounds a year ago. Revenues increased 6 percent at constant currency rates.
Further, the company increased its interim dividend by 4 percent to 2.28 pence per share.
Looking ahead, Senior said its Board expects to meet current expectations for 2019, despite the reported 737 MAX production rate cuts and the ongoing uncertainty around the current geopolitical and macro-economic backdrop.
In the second half, the company expects to make progress across Aerospace division, however, it continues to monitor the developments on the 737 MAX situation closely.
David Squires, Group Chief Executive, said, 'Trading at the Group level in the first half of 2019 has been in line with expectations. ...Looking ahead, the Group is working to minimise the impact of the risk associated with the challenges described, with a renewed focus on cost and efficiencies... The Board remains confident of improving performance and returns for our shareholders.'
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