StockMarketWire.com - Engineering company Senior booked a lower first-half profit owing to acquisition costs and a loss on an asset sale, though its underlying earnings pushed higher.

Pre-tax profit for the six months through June fell 16% to £26.5m, even as revenue rose 6% to £580.4m.

Adjusted profit rose 4% to £40.7m.

Senior declared an interim dividend of 2.28p per share, up 4% on-year.

The company said it was able to mitigate some revenue impact of the grounding of Boeing's 737 MAX aircraft through stronger sales on other civil and military programmes.

'Trading at the group level in the first half of 2019 has been in line with expectations,' chief executive David Squires said.

'Notwithstanding the reported 737 MAX production rate cuts and the ongoing uncertainty around the current geopolitical and macro-economic backdrop, overall the board expects to meet current expectations for 2019.'



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