Business
Senior plc Interim Results Release 2024
Senior plc Interim Results Release 2024.
About this update from Senior Plc
[{"type":"text","content":"\n\nSenior plc\nInterim Results for the half-year ended 30 June 2024\nRobust results, full-year expectations unchanged\n\n\n\n\n \n\n\nFINANCIAL HIGHLIGHTS\n\n\nHalf-year to 30 June\n\n\nchange\n\n\nchange\n(constant\ncurrency)\n\n\n\n\n(4)\n\n\n\n\n\n\n\n2024\n\n\n\n\n\n2023\n\n\n\n\n\n\n\n\n \n\n\n\n\nREVENUE\n\n\n£501.4m\n\n\n\n\n\n£482.3m\n\n\n+4%\n\n\n+7%\n\n\n \n\n\n\n\nOPERATING PROFIT\n\n\n£20.6m\n\n\n\n\n\n£20.8m\n\n\n-1%\n\n\n+2%\n\n\n \n\n\n\n\nADJUSTED OPERATING PROFIT (1)\n\n\n£25.1m\n\n\n\n\n\n£22.9m\n\n\n+10%\n\n\n+13%\n\n\n \n\n\n\n\nADJUSTED OPERATING MARGIN (1)\n\n\n5.0%\n\n\n\n\n\n4.7%\n\n\n+30 bps\n\n\n+30 bps\n\n\n \n\n\n\n\nPROFIT BEFORE TAX\n\n\n£13.2m\n\n\n\n\n\n£13.5m\n\n\n-2%\n\n\n+1%\n\n\n \n\n\n\n\nADJUSTED PROFIT BEFORE TAX (1)\n\n\n£18.4m\n\n\n\n\n\n£17.6m\n\n\n+5%\n\n\n+8%\n\n\n \n\n\n\n\nBASIC EARNINGS PER SHARE\n\n\n2.63p\n\n\n\n\n\n2.80p\n\n\n-6%\n\n\n\n\n\n \n\n\n\n\nADJUSTED EARNINGS PER SHARE (1)\n\n\n3.55p\n\n\n\n\n\n3.53p\n\n\n+1%\n\n\n\n\n\n \n\n\n\n\nINTERIM DIVIDEND PER SHARE\n\n\n0.75p\n\n\n\n\n\n0.60p\n\n\n+25%\n\n\n\n\n\n \n\n\n\n\nFREE CASH FLOW (2)\n\n\n£3.0m\n\n\n\n\n\n£(11.8)m\n\n\n+125%\n\n\n\n\n\n \n\n\n\n\nNET DEBT EXCLUDING CAPITALISED LEASES (2)\n- 30 June 2024 / 31 December 2023\n\n\n£156.1m\n\n\n\n\n\n£132.0m\n\n\n£24m increase\n\n\n \n\n\n \n\n\n\n\nROCE (3)\n\n\n7.3%\n\n\n\n\n\n6.3%\n\n\n+100bps\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHighlights\n\n\n\n\n●\n\n\nRobust trading performance with sales up 7%(4) and adjusted operating profit up 13%(4)\n\n\n\n\n●\n\n\nContinued growth in order book, book-to-bill of 1.15\n\n\n\n\n●\n\n\nNotable contract wins in both Aerospace and Flexonics divisions\n\n\n\n\n●\n\n\nFull-year outlook unchanged with good growth anticipated for the full-year\n\n\n\n\n●\n\n\nInterim dividend increased by 25% to 0.75p\n\n\n\n\nCommenting on the results, David Squires, Group Chief Executive Officer of Senior plc, said:\n\"Senior has delivered a robust set of results that are in line with our expectations.\nOur Aerospace revenue and profits have grown strongly notwithstanding 737 MAX volumes being subdued as a consequence of the ongoing situation at Boeing.\nOur Flexonics Division continued to perform well, maintaining double digit margins, albeit revenues and profits were low...