Business
Half Yearly Report
Half Yearly Report.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n \nRNS Number : 4724O Spirax-Sarco Engineering PLC 07 August 2014 \n \n\nNews Release\nThursday 7th August 2014\n2014 Half Year Results\nContinued organic sales growth and margin expansion despite currency impact\n \nSix months ended 30th June\n\n\n\n\nAdjusted*\n\n\n2014\n\n\n2013\n\n\nChange\n\n\nConstant Currency**\n\n\n\n\nRevenue\n\n\n£319.2m\n\n\n£331.6m\n\n\n-4%\n\n\n+4%\n\n\n\n\nAdjusted operating profit* \n\n\n£67.1m\n\n\n£68.1m\n\n\n-1%\n\n\n+12%\n\n\n\n\nAdjusted operating profit margin*\n\n\n21.0%\n\n\n20.6%\n\n\n+40 bps\n\n\n+150 bps\n\n\n\n\nAdjusted profit before taxation* \n\n\n£66.3m\n\n\n£68.0m\n\n\n-2%\n\n\n+12%\n\n\n\n\nAdjusted earnings per share*\n\n\n61.7p\n\n\n62.0p\n\n\n0%\n\n\n+14%\n\n\n\n\nDividend per share\n\n\n19.5p\n\n\n18.0p\n\n\n+8%\n\n\n+8%\n\n\n\n\n \n\n\n\n\nStatutory\n\n\n2014\n\n\n2013\n\n\nChange\n\n\n\n\nRevenue\n\n\n£319.2m\n\n\n£331.6m\n\n\n-4%\n\n\n\n\nOperating profit\n\n\n£64.7m\n\n\n£65.8m\n\n\n-2%\n\n\n\n\nProfit before taxation \n\n\n£63.5m\n\n\n£65.5m\n\n\n-3%\n\n\n\n\nEarnings per share\n\n\n58.7p\n\n\n59.6p\n\n\n-2%\n\n\n\n\nDividend per share\n\n\n19.5p\n\n\n18.0p\n\n\n+8%\n\n\n\n\n \n*All profit measures exclude certain non-operational items (including amortisation of acquisition-related intangible assets and acquisition and disposal costs), as defined in note 2.\n** At constant exchange rates adjusting for both translation and transaction effects\n \n· Continued organic sales growth of 4% with gains in all segments\n· Operating profit growth of 12% at constant currency\n· Currency headwind reduced reported sales by 7.6% and profit by 12% versus first half year 2013\n· Operating margin ahead 40 bps to 21.0%\n· Good profit growth in the Americas and Watson-Marlow\n· Interim dividend +8%\n \nCommenting on the results, Nick Anderson, Group Chief Executive, said:\n \nWe were pleased with the organic sales increase of nearly 4%. Organic sales were ahead in all segments, however there was a strong currency headwind in the period that reduced sales on transl...