Half year report, UK DTR 4.2.7R, principal risks updated for COVID – 19 and recruitment, summary and cross reference to annual report

Senior plc – Half year report – 30 June 2021

Industry: manufacturing

Risks and uncertainties

During the first half of 2021 the principal risks and uncertainties faced by the Group have been reviewed. COVID-19 continues to impact our business and end markets, although there are signs of recovery. The following risk has been added to the Group’s principal risks as a result of the review:

Key Skills and Talent – As demand starts to return, recruitment, particularly of direct labour, will be required. Mitigating actions have been developed to manage this risk, including regular discussion with the operating businesses to implement actions where challenges are arising.

In addition, one risk has been incorporated within two existing risks, as follows:

Boeing 737 Max – The Boeing 737 Max is now flying again. The residual risk will now be considered in the ‘Programme and Supplier Management’ and ‘Customer Demand and Price-down Pressures’ risks.

The remainder of the principal risks remain unchanged from those set out in detail on pages 34 to 37 of the Annual Report & Accounts 2020 (available at http://www.seniorplc.com). The Group’s principal risks and uncertainties as at 30 June 2021 and for the remaining six months of the financial year are summarised as:

In response to the risks and uncertainties, the Board has established a range of mitigating actions that are set out in detail on pages 34 to 37 of the Annual Report & Accounts 2020 (available at http://www.seniorplc.com). These are reviewed and updated regularly.