November 13, 2017 / 7:47 AM / a year ago

Engineering firm Senior sees 2017 adjusted pretax profit ahead of previous expectations

Nov 13 (Reuters) - Senior said it expected 2017 adjusted pretax profit to be “slightly ahead” of previous expectations, and pointed to aerospace production ramp-up and demand for parts used in heavy truck production in North America and upstream oil and gas. The British engineering firm said revenue at its aerospace division grew in four months from July to October, driven by the production ramp-up programmes for 737 MAX, A320neo, A350 and C Series aircraft.

Senior said its Flexonics division, which provides components for heavy trucks in North America and for the oil and gas industry, had seen some improved activity in heavy-duty truck and upstream oil and gas markets, while downstream oil and gas activity remained subdued.

Senior also said it had appointed Ian King as its chairman-designate, taking over as chairman from Charles Berry when he retires in April.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair

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