Business
Half-year Report
Half-year Report.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n \nRNS Number : 1573I Spirax-Sarco Engineering PLC 07 August 2019 \n\n News Release\nWednesday 7th August 2019\n2019 Half Year Results\nStrong first half organic growth; full year expectations unchanged\nFINANCIAL HIGHLIGHTS\nSix months ended 30th June\n\n\n\n\n \n\n\n 2019\n\n\n 2018\n\n\n Reported\n\n\n Organic⁺\n\n\n\n\nRevenue\n\n\n£591.2m\n\n\n£547.6m\n\n\n+8%\n\n\n+8%\n\n\n\n\nAdjusted operating profit* \n\n\n£129.2m\n\n\n£125.7m\n\n\n+3%\n\n\n+4%\n\n\n\n\nAdjusted operating profit margin*\n\n\n21.9%\n\n\n23.0%\n\n\n-110 bps\n\n\n -70 bps\n\n\n\n\nAdjusted profit before taxation* \n\n\n£124.6m\n\n\n£120.6m\n\n\n+3%\n\n\n \n\n\n\n\nAdjusted basic earnings per share*\n\n\n120.0p\n\n\n119.2p\n\n\n+1%\n\n\n \n\n\n\n\nDividend per share\n\n\n32.0p\n\n\n29.0p\n\n\n+10%\n\n\n \n\n\n\n\nAdjusted cash conversion**\n\n\n71%\n\n\n75%\n\n\n \n\n\n \n\n\n\n\n \n\n\n\n\nStatutory\n\n\n2019\n\n\n2018\n\n\nReported\n\n\n\n\nRevenue \n\n\n£591.2m\n\n\n£547.6m\n\n\n+8%\n\n\n\n\nOperating profit \n\n\n£112.7m\n\n\n£111.9m\n\n\n+1%\n\n\n\n\nOperating profit margin\n\n\n19.1%\n\n\n20.4%\n\n\n-130 bps\n\n\n\n\nProfit before taxation \n\n\n£108.1m\n\n\n£106.8m\n\n\n+1%\n\n\n\n\nBasic earnings per share\n\n\n102.4p\n\n\n105.1p\n\n\n-3%\n \n\n\n\n\n*All profit measures exclude certain items which totalled £16.5 million for the six months ended 30th June 2019, as set out in Note 2.\n**Cash conversion measures the percentage of adjusted cash from operations to adjusted operating profit, as set out in Note 2.\n⁺ Organic percentage growth measures are at constant currency and exclude contributions from acquisitions and disposals. \n \n· Revenue up 8% organically and at reported rates\n· Adjusted operating profit margin of 21.9% in line with expectations\n· Strong organic sales and profit growth in Steam Specialties and Watson-Marlow\n· Continued organic sales growth in Chromal...