Business
2010 Preliminary Results
2010 Preliminary Results.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 4865C Spirax-Sarco Engineering PLC 08 March 2011 \n \n\n\n\n\n\n \nSpirax-Sarco Engineering plc\n\n\n \nCharlton House\nCheltenham\nGlos. GL53 8ER\n \n\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 8th March 2011 [embargoed until 7.00 a.m. on 8th March 2011]\n2010 Preliminary Results\nHIGHLIGHTS\n \n\n\n\n\nAdjusted*\n\n\n2010\n\n\n2009\n\n\nChange\n\n\nConstant FX\n\n\n\n\nRevenue\n\n\n£589.7m\n\n\n£518.7m\n\n\n+14%\n\n\n+11%\n\n\n\n\nAdjusted operating profit* \n\n\n£119.1m\n\n\n£89.9m\n\n\n+32%\n\n\n+26%\n\n\n\n\nAdjusted operating profit margin*\n\n\n20.2%\n\n\n17.3%\n\n\n\n\n\n\n\n\n\n\nAdjusted profit before taxation* \n\n\n£121.6m\n\n\n£90.2m\n\n\n+35%\n\n\n+29%\n\n\n\n\nAdjusted earnings per share*\n\n\n109.5p\n\n\n82.2p\n\n\n+33%\n\n\n+28%\n\n\n\n\nDividend per share\n\n\n43.0p\n\n\n36.1p\n\n\n+19%\n\n\n+19%\n\n\n\n\nSpecial dividend per share\n\n\n25.0p\n\n\n-\n\n\n-\n\n\n-\n\n\n\n\n \n\n\n\n\nStatutory\n\n\n2010\n\n\n2009\n\n\nChange\n\n\n\n\nOperating profit \n\n\n£121.4m\n\n\n£76.5m\n\n\n+59%\n\n\n\n\nProfit before taxation \n\n\n£123.5m\n\n\n£76.4m\n\n\n+62%\n\n\n\n\nEarnings per share\n\n\n112.5p\n\n\n69.6p\n\n\n+62%\n\n\n\n\n \n*All profit measures exclude the exceptional revaluation gain in Mexico of £8.2million (2009: nil) and the amortisation and impairment of acquisition-related intangible assets of £6.1 million (2009: £2.4 million), of which £0.4 million (2009: £0.4 million) relates to Associates. 2010 excludes professional costs of £0.2 million in relation to acquisitions and 2009 excluded headcount reduction costs of £11.4 million. The tax effect on these items was £0.4 million (2009: £4.1 million).\n \n· Sales up 14% - growth led by emerging markets and Watson-Marlow\n· Record operating profit margin exceeds 20%\n· Continued reinvestment in sales development and R&D \n· Good cash flow and strong balance sheet - net cash of £34 million\n· Total dividend up 19% - continuing the Group's long history of increasing dividends\n· Additional special dividend of £20 million\n&...