Senior PLC on Monday reinstated its interim payout due to a robust increase in revenue, helped by growth in its Land Vehicle unit and pricing benefits.
The Rickmansworth, England-based engineering components maker booked a pretax profit of £11.1 million in the first half of 2022, down 50% compared to £22.3 million a year before.
Senior explained that the previous period benefited the sale of its Senior Aerospace Connecticut business.
More positively, revenue grew 21% to £402.2 million from £332.8 million.
Senior attributed the year-on-year increase to a ramp-up in production rates in its Civil Aircraft business and growth in its Land Vehicle arm, as well as pricing benefits of £8.1 million.
Senior reinstated its interim dividend with a payout of 0.30 pence.
The company expects its performance in the second half to be similar to the first one.
It anticipates that its 2022 performance will be in line with expectations and expects ‘further good progress’.
Shares were trading flat at 145.20 pence each on Monday morning in London.
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