Senior Plc Annual Earnings Fall, But Revenue Improves

Senior Plc (SNR.L), a British manufacturing and engineering company, on Monday reported a decline in earnings for 2022, amidst higher finance costs. However, the Group posted a rise in revenue.

For the 12-month period to December 31, 2022, the UK-based company registered a pre-tax income of 22.4 million pounds, compared with 23.7 million pounds a year ago. Last year, the company had benefited from the profit on the sale of the company’s Senior Aerospace Connecticut business.

Adjusted pre-tax earnings were at 20.1 million pounds, compared with a loss of 1.9 million pounds a year ago.

Adjusted income per share moved up to 4.36 pence, higher than 0.17 pence per share of 2021. For 2022, the weighted average number of shares decreased to 415.3 million, from 415.7 million of 2021.

Net profit was at 20.2 million pounds or 4.73 pence per share, lesser than last year’s 24.2 million pounds or 5.73 pence per share.

Finance costs rose to 10.6 million pounds from 8.5 million pounds of 2021.

Operating income stood at 32.5 million pounds as against previous year’s 10.5 million pounds.

For 2022, the company generated revenue of 848.4 million pounds, higher than 658.7 million pounds of 2021.

Senior Plc will pay a final dividend of 1.00 pence per share, to be paid on May 26, to shareholders of record on April 28.

Looking ahead, the company said: “Overall, the Board anticipates strong growth for the Group in 2023 in line with its expectations…We remain on track to drive the Group ROCE to a minimum of 13.5% in line with our previously stated ambition…”

Source: Read Full Article