Senior PLC on Monday reported a double-digit rise in yearly revenue, but suffered a slight decrease in profit.

Shares were up 2.0% to 165.60 pence each on Monday morning in London.

The components and systems manufacturer said revenue for 2022 was £848.4 million, up 29% from £658.7 million a year earlier.

Pretax profit, however, amounted to £22.4 million, down 5.5% from £23.7 million, as basic earnings per share declined by 16% to 4.86 pence from 5.82p a year prior.

It swung to an adjusted pretax profit of £20.1 million, from a loss of £1.9 million, as adjusted earnings per share increased to 4.36p per share from 0.17p a year prior.

Chief Executive Officer David Squires said: ‘We have delivered a strong set of results for 2022, overcoming what was a difficult macroeconomic environment.’

The company declared a total dividend of 1.30 pence per share, compared to none a year earlier.

Looking ahead, Senior said it expects strong growth in 2023 in line with expectations.

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