Senior Share Discussion Threads

[broadwood] 30/9/2010 07:47

Broker upgrade this morning.

[ferries5] 21/9/2010 11:18

Things are looking good for the future.

[dancing piranha] 28/8/2010 13:03

Boeing says Dreamliner now due 1st quarter of 2011
BY SAMANTHA BOMKAMP
ASSOCIATED PRESS

NEW YORK -- Boeing postponed the delivery of its first 787 airliner to the middle of the first quarter of 2011, adding to a string of delays that has put it more than two years past its originally scheduled debut.

The latest delay is the result of engine delivery problems, Boeing said in a statement early Friday. The Chicago company said in July that it expected to start delivering the plane late this year, but it warned that might not happen. Boeing said then that a series of problems, including supplier work related to parts of the tail and instrument issues might push the first delivery "a few weeks into 2011." The original delivery date for the plane was May 2008.
The 787's first customer, Japan's All Nippon Airways, said in a statement that the delay is regrettable, especially "given the success of the flight test program so far."
"However, we trust that the time will be used to deliver the best possible aircraft in the shortest possible time frame," ANA said. The airline is scheduled to get 50 of the planes over the next six years.
The 787 is made of many composite materials designed to make it lighter and more fuel-efficient than comparable planes already in the sky.
Despite delays, the 787 remains Boeing's best-selling new plane, with 847 orders from 55 customers.
It lists for $150 million to $205.5 million, depending on the model, although major customers routinely get discounts.
Boeing said the delay won't affect its financial outlook.
Boeing spokeswoman Yvonne Leach said the company is working closely with British engine manufacturer Rolls-Royce to expedite engine deliveries, but current flight tests are continuing as planned.
Rolls-Royce said the delay was not related to the reported failure of an engine for the 787 in a recent test.
"We have been informed by Boeing that the currently planned dates for Trent 1000 engine deliveries will not support their latest flight test-program requirements," Rolls-Royce said in a statement Friday.
The FlightGlobal Web site, an aviation news site, reported this week that a Trent 1000 engine suffered an "uncontained" failure -- with debris breaking through the engine casing -- during a test on Aug. 2.
Rolls-Royce will make about half the engines for the 787s, General Electric the rest.
GE spokeswoman Deb Case said the flight testing with GE's engines continues as planned.

[dancing piranha] 27/8/2010 10:07

I see the roll out of the 787 is now delayed to early 2011!

[bailliej] 17/8/2010 16:34

Not forgetting any potential synergy benefits which could enhance sales / margin / profits etc. etc.

[ferries5] 17/8/2010 09:31

Small !! But making profit, So earning enhancing.

[mr boatman] 17/8/2010 07:25

Acquisition



TIDMSNR

RNS Number : 1582R
Senior PLC
17 August 2010

?
Senior plc acquires WahlcoMetroflex, Inc.
Senior plc ("Senior") is pleased to announce that it has acquired 100% of the
issued share capital of WahlcoMetroflex, Inc. ("WMX"), a manufacturer of
dampers, expansion joints and exhaust gas systems for the global power
generation, refinery and chemical processing industries. WMX is located in
Maine, USA, with its products and markets being highly complementary to those of
the Group's existing, and successful, Senior Flexonics Pathway operation.
WMX, which began trading in 1972, was owned by seven individual shareholders
prior to the transaction. Six of the shareholders are currently active in the
business and the majority are expected to remain with the business after
acquisition. WMX will continue to operate from its current facility.
The total consideration for the purchase is estimated at US$13.3m (GBP8.5m(1)),
which is being paid through a combination of cash at completion, the assumption
of net debt on acquisition and a payment dependent upon the level of working
capital in the business at acquisition. The Board intends to fund the
transaction through the utilisation of existing debt facilities.
For the year to 31 December 2009, WMX reported sales of US$ 22.7m (GBP14.6m(1))
and profit before interest and tax of US$ 3.1m (GBP2.0m(1)). Net assets of WMX
at 30 June 2010 were US$ 3.9m (GBP2.5m(1)) with the business reporting sales of
US$ 9.7m (GBP6.2m(1)) and profit before interest and tax of US$ 1.1m
(GBP0.7m(1)) for the six month period to 30 June 2010. The acquisition is
expected to be immediately earnings enhancing.
Commenting on the acquisition, Mark Rollins, Senior Group Chief Executive, said:
"I am delighted to welcome all of WMX's employees to the Senior Group. WMX is a
long established leader in the design and manufacture of products for the safe
handling of hot gases for industrial processes in North America. These
capabilities, combined with the global market leadership of Senior Flexonics
Pathway and the financial strength of the Senior Group, can be expected to
provide an enhanced range of solutions for customers across the world, so
bringing benefits to employees and shareholders alike."
Notes

[mr boatman] 15/8/2010 09:49

Citing exciting opportunities in Aerospace and Truck, broker RBS advised clients to buy engineer Senior, 4p to the good at 122.5p. The balance sheet is strong and management has indicated that it would consider bolt-on acquisitions.



Read more:

[dancing piranha] 12/8/2010 18:09

The bottom? I'm back in today anyway...

[mazarin] 02/8/2010 16:05

Brewin Dolphin today reiterates SNR a 'buy' at £1.34. Bound to be more to follow on the back of today's results.

[smarm] 02/8/2010 13:45

Patience required, I don't think market has 'got' this yet.

S

[trendfloor] 02/8/2010 12:34

Thatl do me smarm.

Excelent report this morning.

Should see broker upgrades.

[smarm] 02/8/2010 09:18

Yep, broker forecasts are for profits at 55m for full year and we've made 30 in first half. Let's say 60m for full year.

EPS = 15p (400m shares)
x 10 = 150,
x 12 = 180.

My target is 170 for full year.

S

[broadwood] 02/8/2010 07:23

Outlook

The Group's strong first-half performance and the recently improved outlook for large commercial aircraft build rates lead the Board to expect 2010 adjusted profit before tax(1) to be comfortably ahead of market expectations(2) and, consequently, to be significantly ahead of the 2009 outcome. The Board's expectations assume land vehicle and industrial markets are slightly weaker in the second half of the year. Further progress is also expected to be made, assuming no material adverse movement in foreign exchange rates, in reducing the level of net debt over the remainder of 2010.

Looking further ahead, the outlook for the large commercial aircraft market, the most important market for Senior, is positive with recently announced increases in aircraft build rates for future years and Boeing indicating that customer deliveries of its 787 aircraft will commence early in 2011. The Group can also be expected to benefit when Airbus and Bombardier bring their respective A350 and CSeries aircraft into service. First customer deliveries of these aircraft are targeted for 2013. The regional and business jet markets are currently weak, but the Group has content on a number of new programmes scheduled to go into production over the coming years which should provide longer-term growth. Many Governments are expected to begin to reduce their military and defence expenditure in the near future. However, Senior's two main military platforms, the Black Hawk helicopter and the C-130J transport aircraft, are important strategic programmes providing significant resilience for the Group in this sector. Senior also has healthy content on the key Lockheed Martin F-35 Joint Strike Fighter; the programme build rate is anticipated to grow strongly over the next decade.

Whilst showing some modest increases over 2009, production volumes for North American and European land vehicles remain significantly below historic levels. This is particularly true of the Group's important North American heavy duty truck market where, because of the increased age of the existing fleets and the expectation of a return to economic growth, industry analysts are forecasting markedly improved volumes in the coming years. The European car market can be expected to be more challenging due to continuing economic uncertainty and the end of government incentive schemes. As anticipated, the global large industrial expansion joint market experienced some weakness in the second quarter but, hopefully, the recent increase in the level of quotation activity is an early sign of an improved future outlook for this market.

Senior continues to gain share in a number of its markets, through excellent operational performance and financial strength, with both new and existing customers offering healthy growth opportunities. Tightening emissions legislation and growth in renewable energy markets can also be expected to provide healthy longer-term opportunities for the Group. In addition, the Group's improved profit performance and associated strong cash generation now place the business in a good position to grow by acquisition, as well as organically, if suitable opportunities arise. Consequently, Senior's future prospects remain encouraging.

[broadwood] 02/8/2010 07:09

This I like very much.


The first-half performance and
healthy near-term outlook now lead the Board to expect 2010 adjusted profit
before tax (1) to be comfortably ahead of market expectations

[trendfloor] 29/7/2010 13:44

Nice intrday reversal.

[trendfloor] 28/7/2010 23:22

ahhh but your forgetting DP the figures for stock on loan are only a proxy.

Id have thought a smart bloke like you would know that.

[trendfloor] 28/7/2010 23:20

Smarms 124p Ok no probs.

you kow as well as I do TA aint a science.

A penny or two aint worth arguing about.

[dancing piranha] 28/7/2010 16:18

trendfloor,

Shares on loan give limited info with a share like SNR, which is lightly traded at the best of times! 700k traded on LSE today. One large seller could cause this drop on their own, dripping their sells into the market through the day!

I've tripped a few up over the last few days, when their sells go on the offer, and you take a small cheeky chunk out of it, they remove it straight away! Always the sign of a nervous shorter trying to push the price down!!

[smarm] 28/7/2010 16:15

trendfloor - thanks....I have the floor at 1.24 and then 115.

I agree with DP.....

S

[trendfloor] 28/7/2010 16:14

Not that many on loan DP and looks like a few have jumped ship already...from data explorers.....