Business
2010 Half Year Results
2010 Half Year Results.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n RNS Number : 5035R Spirax-Sarco Engineering PLC 24 August 2010 \n \n\n\n\n\n\nSpirax-Sarco Engineering plc\n\n\n \nCharlton House\nCheltenham\nGlos. GL53 8ER\n\n\n\n\nNews Release\n \n\n\n \nTelephone: 01242 521361\nFax: 01242 581470\nwww.SpiraxSarcoEngineering.com\n\n\n\n\n \nTuesday 24th August 2010 [embargoed until 07.00] \n2010 Half Year Results \n \nSix months ended 30th June\n \n\n\n\n\nAdjusted\n\n\n 2010\n\n\n 2009\n\n\nChange\n\n\nConstant FX\n\n\n\n\nRevenue\n\n\n£277.0m\n\n\n£251.6m\n\n\n+10%\n\n\n+8%\n\n\n\n\nOperating profit* \n\n\n£53.5m\n\n\n£37.8m\n\n\n+41%\n\n\n+38%\n\n\n\n\nOperating profit margin*\n\n\n19.3%\n\n\n15.0%\n\n\n\n\n\n\n\n\n\n\nProfit before taxation*\n\n\n£54.9m\n\n\n£38.2m\n\n\n+44%\n\n\n+40%\n\n\n\n\nEarnings per share*\n\n\n49.8p\n\n\n34.9p\n\n\n+43%\n\n\n+38%\n\n\n\n\nInterim dividend per share\n\n\n 13.0p\n\n\n10.5p\n\n\n+24%\n\n\n+24%\n\n\n\n\n \n\n\n\n\nStatutory\n\n\n 2010\n\n\n 2009\n\n\nChange\n\n\nConstant FX\n\n\n\n\nOperating profit \n\n\n£60.1m\n\n\n£30.1m\n\n\n+100%\n\n\n+94%\n\n\n\n\nProfit before taxation \n\n\n£61.3m\n\n\n£30.2m\n\n\n+103%\n\n\n+96%\n\n\n\n\nEarnings per share\n\n\n58.5p\n\n\n 27.2p\n\n\n+115%\n\n\n+107%\n\n\n\n\n \n* All profit measures exclude the amortisation of acquisition-related intangible assets of £1.6m (2009: £1.0m) of which £0.2m (2009: £0.2m) relates to Associates, and the profit on revaluation of investment arising from the acquisition of a company previously treated as an Associate of £8.0m (2009: £nil) net of acquisition costs. They also exclude headcount reduction costs of £nil (2009: £7.0m). The tax effect on these items was £0.2m (2009: £2.1m).\n \n· Revenue up 10% - increase of 8% at constant currency\n· Operating profit margin at record 19.3%\n· Pre-tax prof...