Senior plc – Half year report – 30 June 2022
Industry: manufacturing
Risks and uncertainties
During the first half of 2022 the principal risks and uncertainties faced by the Group have been reviewed. While the principal risk list has remained relatively unchanged from those set out in detail on pages 50 to 55 of the Annual Report & Accounts 2021 (available at http://www.seniorplc.com), certain risks such as Economic and Geopolitical Impact, Supply Chain Challenges and Inflation have intensified as a result of the conflict in Ukraine. Additionally, the Customer Demand and Price-down Pressures principal risk has been split into two separate principal risks to address these elements individually.
The Group’s risk and assurance framework continues to serve as an effective foundation from which to monitor and address shifting business conditions in this unsettled economic climate. Additional information regarding the risk and assurance framework is set out on pages 48 and 49 of the Annual Report and Accounts 2021 (available at www.seniorplc.com).
The Group’s principal risks and uncertainties as at 30 June 2022 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 50 to 55 of the Annual Report & Accounts 2021 (available at http://www.seniorplc.com). These are reviewed and updated regularly.
Accounts examples 