Business
Preliminary Results 2005
Preliminary Results 2005.
About this update from Spirax Group Plc.
[{"type":"text","content":"\n Spirax-Sarco Engineering PLC\n13 March 2006\n\n\nSpirax-Sarco Engineering plc Charlton House\n Cheltenham\n Glos. GL53 8ER\n\n\nNews Release Telephone: 01242 521361\n Fax: 01242 581470\n www.SpiraxSarcoEngineering.com\n\n 2005 PRELIMINARY ANNOUNCEMENT\n\n HIGHLIGHTS\n\n\n Year to 31st December\n 2005 2004 Change\n\n\nRevenue £349.1m £316.0m +10%\nOperating profit £55.2m £48.0m +15%\nOperating profit margin 15.8% 15.2%\nProfit before taxation £57.0m £48.7m +17%\nCash generated from operations £60.2m £62.2m -3%\nEarnings per share 50.0p 43.1p +16%\nDividends per share 23.8p 21.4p +11%\n\n\n\n• Good growth in Asia and Americas.\n\n• Operating profit up 15%.\n\n• Improved operating margin of 15.8%.\n\n• Strong cash flow.\n\n• Dividend for the full year up 11%.\n\n\nMike Townsend, Chairman, commenting on prospects said:\n\n\n'The results for 2005 were helped by favourable exchange movements and a broadly\npositive trading environment. We invested in the growth of the business and\nwill continue to invest in sales and marketing resources and to improve\nefficiency. The current year has started satisfactorily and, assuming that\nthere is no disruption to the major world economies and that currency movements\ndo not go significantly against us, we expect that the Group will make still\nfurther progress in 2006.'\n\n\nEnquiries:\n\nMike Townsend - Chairman\nMarcus Steel - Chief Executive\nDavid Meredith - Director Finance\nTel: 020 7638 9571 at Citigate Dewe Rogerson until 6.00 p.m.\n\n\n\n SPIRAX-SARCO ENGINEERING plc\n PRELIMINARY RESULTS\n\n\nSUMMARY\n\n\nThe Chairman, Mike Townsend, says:\n\n\n\n'I am pleased to report a further good set of results for 2005. Following the\nprogress in the first half of the year, the momentum was maintained through the\nsecond half. Sales increased 10% in the full year, operating profit was 15%\nahead and pre-tax profit rose by 17% to a record £57.0 million, which includes\nfavourable exchange movements and a small contribution from acquisitions. These\ntrading results together with control of the balance sheet are reflected in the\nimproved return on capital employed, the strong cash flow and the recommended\n11% increase in dividend for the year.\n\n\n\nThis is the first full year's results to have been prepared under International\nFinancial Reporting Standards (IFRS) and all ...