LONDON (Reuters) - British engineering firm Senior Plc warned its annual profit would come in below expectations due to lower demand for parts used in heavy truck production and oil and gas markets.
Senior said in a statement on Thursday that its 2016 performance would be “lower than previously anticipated”. Analysts had expected the company to post annual pretax profit of 80 million pounds for this year, according to Reuters data.
Growth in Senior’s aerospace division was offset by its Flexonics division, which provides components for heavy trucks in North America and for the oil and gas industry, the latest deterioration from a unit which has been dragging on its business since last year.
Reporting by Sarah Young; editing by Kate Holton