Senior PLC announced on Wednesday its trading performance delivered in line with expectations while its full year outlook remained unchanged, predicting second half performance to match the first half of 2022.

The Hertfordshire-based high-tech components and systems manufacturer said in the 10 months that ended October 2022, revenue grew 19% from a year ago, while its order book remained strong with a book-to-bill ratio of 1.28.

Senior said its aerospace division activity benefitted from the continuing recovery in civil aerospace, as well as trading in its Flexonics division due to strong customer demand in the heavy truck and energy markets.

It also cautioned supply chain and inflationary pressures will continue in 2023 amid the current macroeconomic and geopolitical climate.

Senior repaid its $20 million private placement loan which matured in October, while it refinanced its main UK revolving credit facility at competitive rates, extending the maturity to November 2026.

Shares in Senior fell by 1.0% to 119.80 pence in London on Wednesday morning.

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