Senior Share Discussion Threads

[leeson31] 10/3/2014 09:06

all good :-)



down trend broken

[broadwood] 10/3/2014 08:54

This won't do any harm either. Upgrade and increased TP.

Investec Senior PLC 10/03/2014
Upgrades
Reduce Hold 1 290.00 300.00 289.70 10 0

[broadwood] 10/3/2014 08:51

Market obviously thinks they got this at the right price.

Two threads here now - confusing.

[broadwood] 10/3/2014 08:46

Market obviously thinks they got this at the right price.

[leeson31] 10/3/2014 08:44

10 March 2014

Aerospace & Energy acquisition with operations in Malaysia & China

Senior plc ("Senior" or the "Group") is pleased to announce that it has entered into an agreement to acquire 100% of the issued share capital of UPECA Technologies Sdn. Bhd. ("UPECA") for an expected aggregate consideration of MYR415m (GBP75.5m) from Millennium Arena Sdn. Bhd., a holding company for UPECA's private shareholders.

The acquisition is expected to complete towards the end of March following receipt of the customary consents required for such a transaction.

UPECA is a Malaysian-based manufacturer of high-precision engineered components serving the Aerospace & Energy sectors. The business, originally founded by its current majority shareholder, has over 20 years of manufacturing experience and enjoys strong relationships with 'blue chip' customers across all of its markets.

UPECA has two manufacturing facilities in Malaysia, one selling to the aerospace industry and the other to the energy market, and a third facility in China, which is located in Tianjin and specialises in energy applications. The two Malaysian facilities are located approximately 30 minutes apart on the outskirts of Kuala Lumpur. UPECA employs around 625 people across its three operations and the existing management team will continue to manage the business post acquisition.

Approximately one third of UPECA's revenue currently derives from the aerospace market and two thirds from the energy, oil and gas market. Prospects for healthy future growth for UPECA are clearly evident from the high level of customer interest in the Asia-Pacific region for both these markets.

The total consideration for the acquisition of 100% of UPECA is expected to be MYR415m (GBP75.5m)(1) , of which MYR320m (GBP58.2m) will be paid in cash at completion and an estimated MYR95m (GBP17.3m) of net debt will be assumed by Senior. The acquisition will be funded using the Group's cash and existing borrowing facilities.

For the year ended 31 March 2013, UPECA reported sales of MYR154m (GBP28.0m) and trading profit before interest, tax and depreciation of MYR35m (GBP6.3m). For the year ending 31 March 2014, UPECA expects to report sales of MYR172m (GBP31.3m) and profit before interest, tax and depreciation of MYR41m (GBP7.4m).

Gross assets of the business at 31 March 2013 were MYR174m (GBP31.6m).

The acquisition is expected to be immediately earnings enhancing.

Commenting on the acquisition, Mark Rollins, Senior's Group Chief Executive, said:

"I am very pleased to announce the acquisition of UPECA and to welcome all of its employees to the Senior Group. UPECA represents an excellent addition to Senior's portfolio, strengthening the Group's aerospace and energy market presence in the increasingly important South East Asian region. UPECA's 20 years of experience, its impressive capabilities and its own strong customer relationships, combined with Senior's wider market access and financial strength, are expected to create an excellent platform to enhance the future growth prospects for the whole Senior Group."

[discodave4] 10/3/2014 08:41

Nice acquisition......market likes it too by the look of it.DD

[broadwood] 05/3/2014 07:27

TP increased.

Citigroup Senior PLC 05/03/2014
Reiterates
Buy Buy 0 300.00 330.00 290.70 30 2

[leeson31] 03/3/2014 09:35

cracking set of results

Group Highlights

- Strong set of results against a challenging economic backdrop
- Group operating margins maintained at 13.9%
- Adjusted profit before tax of GBP98.1m, 8% ahead of the prior
year
- Strong cash flows resulting in a continued prudent level of net
debt
- Good organic revenue growth of 15% in commercial aerospace
- Atlas and Thermal acquisitions bring new capabilities to the
Group
- Positive contribution from GA in the first full year of ownership
- Full-year dividend proposed to increase by 10%
- Group outlook remains encouraging

[broadwood] 03/3/2014 09:25

A flat share price on a very down market day. I'll take that.

- Revenues up six per cent, adjusted profits rise eight per cent
- Net debt below forecasts, total divi up 10 per cent
- FX a headwind in 2014

Manufacturing group Senior beat forecasts with its annual profits for last year and gave a strong outlook for 2014, but warned of 'uncertainty' with regards to volatile foreign exchange (FX) movements.

The company, which operates through its two main divisions of Aerospace and Flexonics, reported a 6% rise in revenue in 2013 to £775.1m, although growth was just 3.3% on an organic, constant currency basis.

The company said results were helped by organic revenue growth in large commercial aerospace and a full year's contribution from GAMFG Precision, the precision-machining business acquired towards the end of 2012.

Adjusted pre-tax profit rose 8% to £98.1m, ahead of Jefferies' £97.8m prediction.

The company's net debt position of £59.2m, down £12m year-on-year, was also better than expected, "leaving the group well placed to fund future organic and acquisitive growth", according to Chief Executive Mark Rollins.

Senior has declared a final dividend per share (DPS) of 3.6p, bringing the total DPS for the year to 5.12p, up 10% year-on-year.

The company said that the 2014 financial year has "started satisfactorily" with underlying results expected to be in line with expectations.

"However, volatile foreign exchange movements add more uncertainty to the reported group outcome for the year," said Chairman Charles Berry.

According to analysts at Jefferies, the results "make for good reading" and the outlook statement is "very robust from an underlying perspective, although there continues to be an FX headwind".

"Senior is well placed for future growth we believe, but due to FX, we expect to see consensus forecasts drift down modestly."

[broadwood] 03/3/2014 07:40

Looks like commercial aircraft are taking up the slack.

[spudders] 03/3/2014 07:18

Good statement ;))

[broadwood] 27/2/2014 17:04

Results on 3rd March. All will be revealed.

[discodave4] 24/2/2014 20:24

IMV it looks like the RR results on the 13th, with their no revenue growth forecast for 2014, has impacted on the share price here. Hopefully it will recover back to over 300 within the next month.....WTFDIK!.Anybody any thoughts?GLDD

[turbomouth] 14/2/2014 14:17

Covered in Money Week, a long term buy

T

[discodave4] 28/1/2014 20:19

28th Jan Liberum Capital reiterates Buy.DD

[philanderer] 28/1/2014 16:33

28 Jan Senior PLC

Numis Add

Target price :325.00

Initiates/Starts

[philanderer] 13/1/2014 10:16

Investec downgrades to reduce , target 290p (from 311p)

[broadwood] 07/1/2014 12:55

All time highs. Update end of next month.

[discodave4] 07/1/2014 12:52

Quiet on here.......trying for 320 today by the looks of it.Seemed to have been taking a breather & now onwards & upwards.Anybody any thoughts as to today's movement?DD

[broadwood] 19/12/2013 11:21

Boeing going bananas.

All the better for SNR.

[sawadee3] 19/12/2013 11:19

Cream always rises to the top. Pure Quality :-)

[dancing piranha] 13/12/2013 18:55

She is gonna blow £3 pretty damn soon..... the upward trend is relentless!!

[broadwood] 13/12/2013 06:56

Boeing wins orders worth up to $873 million for F/A-18 upgrades

[philanderer] 07/12/2013 09:24

from earlier in the week..

'Buy' Senior, Jefferies says

Aerospace engineering business Senior (SNR.L)'s acquisition of component manufacturer Thermal Engineering is a sensible move, according to Jefferies.

Senior is paying Privet Capital and a number of individual shareholders £28.3 million for Thermal Engineering, funded from the group's existing cash and debt facilities.

'This looks a very sensible bolt-on to us, and according to management, is a ''classic Senior acquisition'',' analyst Andy Douglas said.

'Thermal bring new capabilities into the Senior group and existing margins look acceptable to us (although some very modest investment is needed in the business in the near-term, we suspect that earnings margins will be held and possibly nudge higher over time) and we like the increased exposure to the large commercial aerospace sector.'

Jefferies has a 'buy' recommendation on Senior.