Senior Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9582155 http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9582155&action=detail Thu, 26 Apr 2012 17:47:00 GMT The Dutchman tag:iii.co.uk,2003:tst.9579991 http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9579991&action=detail Thu, 26 Apr 2012 09:21:00 GMT blue leader tag:iii.co.uk,2003:tst.9361304 Tue, Feb 28, 2012 at 1:44 PM
Click for report
http://bit.ly/w5GPuG By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9361304&action=detail Tue, 28 Feb 2012 12:46:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9358798 Newspaper Briefing
http://bit.ly/zyl1sd By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9358798&action=detail Tue, 28 Feb 2012 06:22:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9358676 By Roland Gribben
5:37PM GMT 27 Feb 2012
http://tgr.ph/yTlDPK By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9358676&action=detail Tue, 28 Feb 2012 05:14:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9358673 by Harry Brooks on Feb 28, 2012 at 05:01
http://bit.ly/yzrGIM By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9358673&action=detail Tue, 28 Feb 2012 05:12:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9348816 http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9348816&action=detail Fri, 24 Feb 2012 18:50:00 GMT blue leader tag:iii.co.uk,2003:tst.9348413 http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9348413&action=detail Fri, 24 Feb 2012 16:41:00 GMT Proc1 tag:iii.co.uk,2003:tst.9330516 Newspaper Briefing
http://bit.ly/ziPPxB By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9330516&action=detail Wed, 22 Feb 2012 06:19:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9316889 19 Feb 2012
http://bit.ly/sPjaXE By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9316889&action=detail Sun, 19 Feb 2012 20:21:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9138098 By JOANNE HART
Last updated at 11:48 AM on 9th January 2012
http://bit.ly/xUaL0Q By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9138098&action=detail Mon, 09 Jan 2012 17:21:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9134045 08/01/2012 by ukcitymedia
http://bit.ly/x965r9 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9134045&action=detail Sun, 08 Jan 2012 20:30:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.9006670 ')" target="_new" rel="nofollow">http://www.independent.co.uk/news/business/sharewatch/investments-shortterm-caution-does-nothing-to-dim-the-longterm-case-for-rio-6269366.html

News | Business | Sharewatch

NIKHIL KUMAR TUESDAY 29 NOVEMBER 2011

Senior

OUR VIEW: BUY

SHARE PRICE: 164.8P (+2.8P)

Senior announced what we viewed as a pretty good deal yesterday. The industrial manufacturer said it had bought Weston, which produces machine parts and assemblies for the commercial aerospace market.

To put the deal into some context, it is worth remembering that the big aircraft manufacturers notched up some good orders at recent air shows. This bodes well for commercial aerospace building activity, which is what matters in this instance.

Weston is particularly exposed to Airbus, which is another big positive, as the European plane maker has recently booked some eye-catching orders (think of its success in luring customers with its expanded A320 family, for example). We therefore agree with Shore Capital's assessment that, while there may be no cost savings from the deal, the "acquisition is strategic".

Turning to the shares, Senior is trading higher than when we bought in earlier this year. But even then, it is hardly pricey, with the market valuing the stock at around 10 times forward earnings for next year. On enterprise value to earnings before interest, tax, depreciation and amortisation, it is on around 6.3 times, according to Shore. There is no reason to bank profits, as we think there is more to come. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=9006670&action=detail Tue, 29 Nov 2011 05:06:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8937054
http://www.shareworld.co.uk/index.php/alan-watson/newsletter/november-2011/#straightfromthekennel By theraysor ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=8937054&action=detail Fri, 11 Nov 2011 09:25:00 GMT theraysor tag:iii.co.uk,2003:tst.8883747 Thu, Oct 27, 2011 at 9:05 AM
http://www.edisoninvestmentresearch.co.uk/researchreports/Senior271011QV.pdf

Senior’s IMS and investor seminar demonstrated the strength of the forthcoming pipeline of civil aerospace business. We were also impressed with the ‘tell it as it is’ culture of the group, and we believe the benefit of operational excellence is coming through in the form of additional work, as OEMs look to offload work to concentrate on final assembly. With aerospace accounting for 60% of group revenues, we feel this has both visibility and substantial growth potential as production rates increase and new aircraft enter service, while Senior can also capture a greater a market share through cross-fertilisation of customers.

Senior designs and manufactures components and systems for the aerospace, defence, land vehicle, energy and industrial markets. It operates through two divisions: aerospace (60% of H111 sales) and flexonics (40%).

Consensus estimates
Year
End Revenue
(£m) PBT
(£m) EPS
(p) DPS
(p) P/E
(x) Yield
(%)
12/09 540.1
48.0 8.7
2.6
18.4
1.6
12/10 566.9 65.3
12.0
3.1 13.3
1.9
12/11e 625.8
75.5 13.6
3.5 11.8 2.2
12/12e 668.9
82.4
14.8 3.9 10.8 2.4
Edison's QuickView notes are normally one-off publications with no commitment to writing any follow up. QuickView notes use consensus earnings estimates. By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:SNR.L&display=discussion&id=8883747&action=detail Thu, 27 Oct 2011 08:07:00 GMT SpikeyDT