Edition:
India

Senior Plc Says HY Results Impacted By COVID-19 And 737 MAX, Suspends Interim Dividend


Monday, 3 Aug 2020 

Aug 3 (Reuters) - Senior PLC ::RESULTS SIGNIFICANTLY IMPACTED BY CORONAVIRUS (COVID-19) AND 737 MAX.H1 ADJUSTED OPERATING PROFIT 9.0 MILLION STG VERSUS 46.2 MILLION STG YEAR AGO.H1 REVENUE 409 MILLION STG VERSUS 580.4 MILLION STG YEAR AGO.NET DEBT/EBITDA OF 1.6X: HEADROOM INCREASED TO £162M.IN AEROSPACE, FOR SIX MONTHS ENDED 30 JUNE 2020, SALES WERE 31.3% LOWER THAN H1 2019 ON A CONSTANT CURRENCY BASIS.NOW EXPECT TOTAL RESTRUCTURING CHARGE TO BE AROUND £35M, AN INCREASE FROM £23M WE HAD ANNOUNCED AT OUR FULL YEAR 2019 RESULTS.BOARD BELIEVES IT IS NOT APPROPRIATE TO PAY AN INTERIM DIVIDEND..GUIDANCE FOR 2020 REMAINS SUSPENDED.