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(Sharecast News) - Senior on Monday said it was in advanced talks with a small number of parties on the sale of its aerostructures business as it also announced a rise in annual earnings.
The engineering, which supplies parts to Boeing and Airbus said a rise in aircraft build and improved contract pricing was expected to drive sales this year.
Senior has been looking to offload the aerostructures business after Boeing cut output of its 737 MAX planes.
"We are focused on completing the sale process and maximising value for shareholders and will update the market in due course," said chief executive David Squires.
However, he added that the company was "closely monitoring the impact on global trade from potential tariff changes" as the new US government slapped imposed new tariffs on imports from China, Mexico and Canada, and threatened a trade war with the European Union.
Pre-tax profit rose 22% to 27.8m, while revenue was up 1% to 977.1m.
Reporting by Frank Prenesti for Sharecast.com
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