Business
Interim Results
Interim Results.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n Spirax-Sarco Engineering PLC\n07 September 2006\n\n\n\n Spirax-Sarco Engineering plc\n\n Thursday 7th September 2006\n\n 2006 Interim Results\n\n\n\n\n Six months to 30th June\n 2006 2005 Change\n\n\nRevenue £185.9m 166.6m +12%\nOperating profit £28.2m £25.0m +13%\nOperating profit margin 15.2% 15.0%\nProfit before taxation £30.0m £26.0m +16%\nEarnings per share 26.2p 23.0p +14%\nDividends per share 7.5p 6.8p +10%\nNet cash £2.2m £1.5m\n\n\n\n\n\n• Continuing good growth in Asia and North America\n\n• Noticeable improvement in Continental Europe\n\n• Margin growth despite higher material and energy costs and\n the Brazilian result\n\n• Pre-tax profit up 16%\n\n• Interim dividend up 10%\n\n• Continuing bolt-on acquisitions\n\n\n\n\n\nCommenting on the results, the Chairman, Mike Townsend, said:\n\n\n\n'The good results in the first half of the year were achieved against a\nrelatively positive market background and favourable currency movements. If the\nUS dollar remains weak, as seems likely, the exchange gains would largely unwind\nin the second half of 2006 and there are some doubts about the sustainability of\nthe current positive business environment, particularly in the USA.\nNevertheless there continue to be good sales prospects for the second half of\nthe year and we expect a further good performance.'\n\n\n\n\n\n\n\nEnquiries:\n\n\n\nMarcus Steel - Chief Executive\n\nDavid Meredith - Director-Finance\n\nTel: 020 7638 9571 at Citigate Dewe Rogerson until 6.00 p.m.\n\n\n\nThe Chairman, Mike Townsend, comments as follows:\n\n\n\n'I am pleased to report another good set of results reflecting a continuation of\nthe positive start to the year that we reported in March. The growth has been\nbased on the underlying strengths of our specialised businesses, which have been\noperating in a mainly healthy global economic environment. There was sales\ngrowth in Asia, North America, Europe and the Rest of the World, but demand in\nthe UK market was weaker. We increased our investments to take advantage of the\nidentified growth opportunities for our industrial steam and peristaltic pumping\nbusinesses, improving the knowledge and service provided to our customers to\nimprove the efficiency of their plants.\n\n\n\nSales in the first half were £185.9 million, up from £166.6 million; an\nincrease of 12%. This compr...