UK engineer Senior lifts forecast on recovery in aerospace, oil & gas By Reuters – Investing.com

UK engineer Senior lifts forecast on recovery in aerospace, oil & gas By Reuters – Investing.com

(Reuters) - British jet and auto parts supplier Senior Plc on Friday forecast 2021 performance to be slightly ahead of its previous expectations, encouraged by "clear signs of recovery" in the aerospace and the oil and gas sectors.

The engineering firm, which supplies equipment to planemakers including Boeing (NYSE:), Airbus and heavy equipment maker Caterpillar (NYSE:), said trading in six months to June had been ahead of management expectations and sales were likely to fall 13%.

While the aerospace industry is still reeling from a pandemic hit, Senior pointed to updates from Airbus and Boeing in recent weeks, saying some production rates picking up towards the end of this year and into 2022 support its outlook raise.