LONDON (dpa-AFX) - (Updates story to highlight adjusted earnings)
Engineering and manufacturing company Senior plc (SNR.L), which is in GBP 1.275 billion deal to be acquired by Blackstone Inc. (BX) and Tinicum Inc., reported Monday higher reveneus in its first half of fiscal 2026, and maintained fiscal 2026 outlook.
In the first half, the company recorded a higher adjusted pre-tax profit, excluding a charge related to the pending take private deal, with strong operational performance by both Aerospace and Flexonics Divisions. Including the charge, the firm slipped to a loss.
Regarding the pending acquisition by Zeus UK Bidco Limited, an entity owned by Blackstone- Tinicum Consortium, Senior said the completion is now expected by the end of 2026. Regulatory and antitrust filings are progressing, and the deal so far received 10 of the 12 required approvals.
In the first half, adjusted profit before tax was 34.8 million pounds, compared to 25.3 million pounds in the same period a year ago. Adjusted earnings per share were 6.27 pence versus 4.92 pence last year.
In the latest period, the company recorded contingent transaction costs of 35 million pounds, among others.
Including the charge, loss before tax came in at 5.6 million pounds, compared with income of 22.8 million pounds in the previous year due to a pending acquisition.
Loss per share were 3.19 pence versus earnings per share of 4.92 pence last year.
Operating profit jumped to 37.7 million pounds from 29 million pounds in the previous year.
Revenue increased to 390.8 million pounds from 371.2 million pounds in the previous year.
Looking ahead, the company said its Board remains confident of delivering full-year performance in line with the upgraded expectations given in its July post-close update.
The company said growth in civil aircraft production, increased demand across core aerospace markets, a robust North American heavy-duty truck market, and strong operational performance at its Flexonics division are expected to support full-year 2026 results.
Senior shares were trading 0.69% higher at 292.50 on the London Stock Exchange.
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