Weston deal brings Airbus uplift to Senior

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As for many of its UK manufacturing peers, 2011 was a strong year for the aerospace and automotive components specialist Senior.

The purchase in November of Weston, a Lancastrian maker of commercial aerospace parts, will not only be earnings-enhancing, but will give Senior exposure to Airbus, as well as Boeing.

That should prove valuable, as, between them, the aerospace groups are set to increase the build rate on projects in which Senior is involved by 42 per cent by 2014.

Monday’s closing price of 195.4p valued Senior at about 12 times forward earnings, a premium of 20 per cent to its peers. That seems fair for a company with strong management and excellent visibility.

Senior full-year results to December 31 2011
SalesPre-tax profitEarnings per shareDividend
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