Senior: FTSE 250 aerospace and defence group bags new contracts
Senior shares edged up on Tuesday after it unveiled £168m worth of new contracts that will stretch into the 2030s.
Shares in the FTSE 250 firm have soared nearly 40 per cent over the last month despite the threat of Donald Trump’s tariffs on the wider aerospace industry.
The stock edged up nearly two per cent in early trading as the company announced two fresh contract awards in its Aerospace and Flexonics division.
Senior will supply high-tech components for major land vehicle manufacturers in both the combustion and hydrogen space.
Production for the first contract will kick-off in 2025 and continue until 2029, with manufacturing taking place in Czech Republic and at its joint venture facility in Wuhan, China.
The second contract will last around eight years, with production taking place in Czech Republic, Mexico and Cape Town, South Africa.
“These new contract wins continue the strong recent momentum across the Group, with significant new order intake across both our Flexonics and Aerospace divisions,” chief executive David Squires said in a statement.
“The strength of our order book, combined with our leading positions in high-technology fluid conveyance and thermal management applications underpins our confidence for continued growth in 2025 and beyond.”
Senior shares shake off tariffs
Senior in April played down the impact of Donald Trump’s tariffs, which have presented a rare threat to the aerospace industry.
In a first quarter update, Senior said its outlook for the full-year remained unchanged, with the board anticipating “good growth” in line with expectations.
The company is also in talks to sell its aerostructures business, which is expected to secure an operating profit of between £9m and £11m in 2025.