Aero engineer Senior posted its highest ever full-year results, citing benefits from aerospace acquisitions and strong orders in its aircraft segment.
With growing economies in Asia, the aircraft industry -- the company's most important end-market -- has been boosted by the order books of Boeing and Airbus, who expect combined deliveries for 2012 to be 15 percent ahead of last year.
Trading since the start of 2012 has been in-line with expectations, said Senior, which designs and manufactures technology components and systems for original equipment producers in the aerospace, diesel engine, and energy markets.
However, Senior said the uncertain environment in the European financial sector could lead to reduced demand for some of its products or result in sudden swings in exchange rates.
The company acquired Damar, located close to Boeing's commercial aircraft assembly facilities in Seattle, and Weston, with facilities in the UK and Thailand, during the year.
These acquisitions have increased the company’s exposure to the commercial aircraft market and extend its aerospace machining capabilities into Europe and Asia.
The company, whose peers include Meggitt, raised its final dividend by 25 percent to 2.65 pence. Total dividend rose to 3.8 pence.
January-December adjusted pre-tax profit was GBP£78 million (USD$123.69 million), compared with GBP£65.3 million last year. Revenue rose 13 percent to GBP£640.7 million.