Business
2013 Half Year Results
2013 Half Year Results.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n \nRNS Number : 2056L Spirax-Sarco Engineering PLC 08 August 2013 \n \n\n \nNews Release\nThursday 8th August 2013\n2013 Half Year Results\nStrong financial performance against challenging market backdrop\n \nSix months ended 30th June\n\n\n\n\nAdjusted*\n\n\n2013\n\n\n**2012\n\n\nChange\n\n\nConstant Currency\n\n\n\n\nRevenue\n\n\n£331.6m\n\n\n£313.5m\n\n\n+6%\n\n\n+4%\n\n\n\n\nAdjusted operating profit* \n\n\n£68.1m\n\n\n£58.2m\n\n\n+17%\n\n\n+14%\n\n\n\n\nAdjusted operating profit margin*\n\n\n20.6%\n\n\n18.6%\n\n\n+200 bps\n\n\n+180 bps\n\n\n\n\nAdjusted profit before taxation* \n\n\n£68.0m\n\n\n£57.5m\n\n\n+18%\n\n\n+15%\n\n\n\n\nAdjusted earnings per share*\n\n\n62.0p\n\n\n51.8p\n\n\n+20%\n\n\n+17%\n\n\n\n\nDividend per share\n\n\n18.0p\n\n\n16.0p\n\n\n+13%\n\n\n+13%\n\n\n\n\n \n\n\n\n\nStatutory\n\n\n2013\n\n\n2012\n\n\nChange\n\n\n\n\nOperating profit \n\n\n£65.8m\n\n\n£50.8m\n\n\n+30%\n\n\n\n\nProfit before taxation \n\n\n£65.5m\n\n\n£49.9m\n\n\n+31%\n\n\n\n\nEarnings per share\n\n\n59.6p\n\n\n44.6p\n\n\n+34%\n\n\n\n\n \n*All profit measures exclude certain non-operational items, as defined in note 1.\n**2012 figures have been restated for IAS19 (revised), see note 6\n \n· Good organic sales growth of 4% - gains in all segments\n· Emerging markets increase to 40% of Group revenues\n· EMEA profit up 41%\n· Operating margin ahead 200 bps to 20.6%\n· EPS +20%\n· Interim dividend +13%\n· Continued good cash flow - net cash of £57m, special dividend paid July\n \nCommenting on the results, Mark Vernon, Group Chief Executive, said:\n \nAgainst a challenging market backdrop, we are pleased to report good organic sales growth of 4% and significantly higher adjusted operating profit, up 14% at constant currency, resulting in a strong operating margin of 20.6% as compared to last year's 18.6%. Sales were up across each of our segments, although we note continuing difficult market conditions in most of our mature markets. Operating profits were up...