Senior PLC (SNR.L)
7 Aug 2020
Mon, Aug 3 2020
* Shares hit lowest in nearly 11 years (Recasts top, adds analyst comments, share move)
Aug 3 British aerospace supplier Senior Plc swung to a loss in the first half of 2020 and shelved its interim dividend as costs rose and its sales were hammered by coronavirus-driven cuts across the air industry and other manufacturing partners.
UK engineer Senior Plc forecast a near one-third drop in first-half revenue on Friday and cut another 12% of its staff as it deals with an aerospace industry downturn brought on by the COVID-19 pandemic.
* Shares down 3.5% (Adds shares, analyst comments, background, detail)
July 10 British engineer Senior Plc said on Friday it laid off another 12% of its staff and forecast a drop of about 30% in revenue for the first half as it deals with a steep downturn in the aerospace industry.
* NOW EXPECT GROUP REVENUE IN H1 2020 WILL BE AROUND 30% LOWER THAN H1 2019 AND CONSEQUENTLY, MARGINS WILL BE SIGNIFICANTLY LOWER
LONDON, March 26 British aerospace engineer Senior Plc said it was scrapping its dividend to save cash to deal with the expected impact of the coronavirus crisis on demand from its customers, including planemaker Boeing.