Senior Share Discussion Threads

[broadwood] 26/2/2013 15:11

N+1 Singer Senior PLC 26/02/2013
Retains
Buy Buy 0 270.00 270.00 237.00 0 2

[mazarin] 25/2/2013 21:45

Boeing battery fix suggestion. My immediate concern is how much additional weight will these 'boxes' impact upon performance. Hardly a fix, in my view more an acceptance that the batteries currently can't easily be redsigned...! An ' If you can't fix it , then contain it' approach..

[broadwood] 25/2/2013 16:27

Yep, I'm waiting on GKN too and WEIR on Wednesday.

At least we've held our gains here despite Dow heading South.

[rogerrail] 25/2/2013 10:48

Excellent results to add to those of RR, civil aerospace looks very bouyant at the moment, GKN results due tomorrow and also I believe AVG interims though you never know with AIM companies.!

I hold all four as very bullish about this sector.

[broadwood] 25/2/2013 10:35

N+1 Singer Senior PLC 25/02/2013
Retains
Buy Buy 0 270.00 221.30 270 2

[broadwood] 25/2/2013 09:43

Aeronautics and industrial component manufacturer Senior has today unveiled somewhat mixed figures, albeit accompanied by an improvement in margins, an upbeat outlook and while delivering a 22% increase in its full-year dividend.

The company's profit before taxes grew by 16% to £83,4m on the back of an increase in revenues from continuing operations of 14% to £712m. The latter was modestly less than forecast by analysts.

The firm's most important other metrics of financial performance also improved. Hence, its free cash flow gained 4% to £57.6m while its net debt decreased by £22m to £70.9m. On this point the group's Chief Executive highlighted that Senior's net debt to EBITDA ratio stood at only 0.6 times at year-end. Hence, in his own words, the Group: "[is] well placed to fund future organic and acquisitive growth."

Adjusted operating margins rose by one tenth of a percentage point versus last year, to 13.9%.

The first few weeks of 2013 saw the Group perform 'in-line' with the Board's expectations. The Flexonics Division – which includes equipment for emissions control as well as for industrial processes - is benefiting from solid sales to the North American heavy-truck market, but being impacted by weakening European passenger vehicle production, and the Aerospace Division is seeing healthy volumes from large commercial aircraft but a continuing decline in the military and defence market, Senior explained.


Analysts highlight lower taxes, improved margins
Commenting on the results this is what analysts at Investec had to say: "Following the lower tax guidance (22.5% from 23.0%) and improved margins, we expect to upgrade our estimated fiscal year 2013 earnings per share of 18.0p by 2-3% although we need to understand the revenue miss in more detail.

"With many moving parts, we see headwinds from European autos and on-going concerns about the important B787 programme, and tailwinds from FX (strengthening US$) and improving Flexonics revenue mix. We don't see a major catalyst on the near-term horizon."


Dividend cover to remain at 3.8
The Board is recommending a final dividend of 3.27 pence per share (2011 - 2.65 pence) which, if approved, would bring the total dividends, paid and proposed, in respect of 2012 to 4.65 pence per share, an increase of 22% over 2011 in line with the increase in adjusted earnings per share.

Significantly, the company points out that, at the level recommended, the full-year dividend would be covered 3.8 times (2011 - 3.8 times) by adjusted earnings per share

[broadwood] 25/2/2013 08:40

Off to the races now.

[broadwood] 25/2/2013 08:10

First market reaction positive. New all time highs.

[broadwood] 25/2/2013 07:09

From Chairman - 'although some other markets are anticipated to be more challenging' - only negative I can see.


As we enter the start of a new year, Senior's most important end-market, large commercial aerospace, remains strong and, although some other markets are anticipated to be more challenging, the Group continues to expect to make further progress during 2013. Looking further ahead, a healthy number of new aerospace programmes going into production, together with expected market share gains in both the Aerospace and Flexonics Divisions, mean the outlook for Senior remains encouraging

[broadwood] 25/2/2013 07:07

Margin improvement continuing and 22% increase in dividend.

Commenting on the results, Mark Rollins, Group Chief Executive of Senior plc, said:

"2012 saw Senior deliver another year of record results. Adjusted profit before tax increased by 17% and adjusted earnings per share by 22%, driven by revenue growth and a strong first year's performance from the recently acquired Weston business. Continued healthy operating cash flows resulted in a net debt to EBITDA ratio of only 0.6 times at year-end, leaving the Group well placed to fund future organic and acquisitive growth. Trading has been in line with expectations since the start of 2013 and this, combined with healthy longer-term prospects for the Group, gives the Board the confidence to recommend a 22% increase in the full year dividend for 2012, in line with the increase in adjusted earnings per share

[broadwood] 25/2/2013 06:53

Stand by your beds.

[gco1133a] 22/2/2013 13:36

Results on Monday

[broadwood] 22/2/2013 13:21

Standard Life now over 5%.

[broadwood] 22/2/2013 09:37

Boeing execs meeting with the Aviation authority today to try to get permission to fly the Dreamliner again after battery modifications.

SENR up a little bit.

[gco1133a] 06/2/2013 15:44

My understanding is that they can store 50-60 at Pain field, which is several months production. Boeing also has another new facility which it could use for storage. So I would guess production will not stop unless it becomes clear that a major redesign is required.

[broadwood] 06/2/2013 15:02

gco - the market agrees with you, for the present at least.

My worry is that they seem nowhere near identifying the problem so it would seem only a matter of time before they had to slow production.

Worst case scenario I appreciate.

[gco1133a] 06/2/2013 14:35

Boeing hasn't as yet slowed production of the Dreamliner and is still planning
to ramp up production later this year so at the moment the grounding won't have any effect.

[broadwood] 06/2/2013 10:38

25 Feb is the date for the finals.

Price pretty firm so far today.

Still have Dreamliner delay doubts but seems the market doesn't.

Needless to say I'm a long term holder and shall remain so - unless dramatic news on 25th.

[mazarin] 20/1/2013 21:56

From ADVFN Trades these mysterious 3 trades are listed on 18/01/13 that show the 5p jump that existed for only a few seconds:
No Price Size Bid Offer Buy Vol Sell Vol
282 6883937008 218.0 2600 AT 213.1 218.0 11:49:36 2,600 187,321 84,971 3,063
283 6883937008 218.0 3636 AT 218.0 220.8 11:49:36 3,636 187,321 88,607 3,063
284 6883937008 218.0 3636 AT 218.0 219.3 11:49:38 3,636 187,321 92,243 3,063

Presumably they're all 'Buys' but none are especially large amounts.

[broadwood] 18/1/2013 12:41

Fat finger just before midday?

[broadwood] 18/1/2013 12:39

I'm surprised the shares have reacted so well in view of the Dreamliner news. Must admit I thought they would get a savage markdown until the problems were sorted.

[mazarin] 16/1/2013 17:19

I am assuming today's SNR's sell-off is on he back of JAL & ANA's decision to ground their 787 fleet in the wake of the latest succession of Dreamliner faults. It has also had a negative impact on Boeing. Commentors suggest its yet another 'market' over-reaction and that provided the problems can be identified and sorted that there's plenty of upside ahead.

[nofool] 02/1/2013 18:20

jlo10 12 Dec'12 - 07:57 - 2272 of 2275 0 0

May not be full of jolly statements but it's a good update.
Everything as expected (and they mostly expected good and EPS progress) and cash is better than expected.
Today's market reaction is unpredicatable but medium term should be moving up





jlo10, you're no fool.

[honiton2] 30/12/2012 22:20

Think i will buy some of these little beauties