Senior profits soar on boost from its purchase of Weston

AIRCRAFT component maker Senior yesterday posted a 17 per cent hike in adjusted pre-tax profits for the full year, boosted by the company’s recent acquisition of commercial aircraft parts maker Weston.

Revenue grew 14 per cent over the year to £729.8m and sales at its aerospace business grew 23 per cent to £470.5m. Weston, which was acquired by Senior in late 2011, accounted for about £55.6m, or eight per cent of overall revenue.

On the back of strong results, Senior, which supplies wall panels and ducting to planemakers, hiked its dividend 22 per cent to 4.65p.

Senior, which shrugged off any concerns over Boeing’s Dreamliner, said that Boeing is still making the model and plans to double its production rate to ten 787s a month by early next year.

Shares closed up 7.09 per cent.