- Specialist component manufacturer Senior warned revenue and margins in its key aerospace division would fall in 2020 due to the ongoing grounding of Boeing's 737 MAX aircraft.

The company said it currently expected aerospace revenue in calendar 2020 to be around 20% below 2019 levels, before returning to growth in 2021.

'The impact of the anticipated sales reduction will only be partially mitigated by savings from our ongoing restructuring programme," Senior said.

As a consequence, aerospace margins in 2020 would be lower than in 2019, it added.

For the 2019 calendar year just gone by, Senior said revenue was seen in line with expectations, though adjusted earnings per share would be ahead of expectations, due lower central costs and a lower tax rate.

Senior said it had exposure to the 737 MAX programme through several customers, each of whom may have different requirements depending on a number of factors, including their inventory levels.

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