Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

10,050.00p
   
  • Change Today:
    -50.00p
  • 52 Week High: 11,855.00p
  • 52 Week Low: 8,058.00p
  • Currency: UK Pounds
  • Shares Issued: 73.77m
  • Volume: 151,622
  • Market Cap: £7,414m
  • RiskGrade: 124

Spirax-Sarco profits rise despite sales growth decline

By Duncan Ferris

Date: Wednesday 13 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Spirax-Sarco Engineering on Wednesday reported an increase in profit and left its full-year expectations unchanged, but also warned of a slowdown in sales growth.


The pump and steam-management system manufacturer said group operating profit for the 10 months ended 31 October was ahead of the same period last year, both on an organic basis and when the effects of acquisitions and disposals are included.

The company said that its organic sales growth rate in the four months to the end of October had dropped from the 8% achieved in the first half of the year, but remained ahead of struggling global industrial production growth.

The decline comes as the FTSE 100-listed company said trading at its Steam Specialties business has softened since June, particularly in the Europe, Middle East and Africa region.

However, sales momentum at Watson-Marlow Fluid Technology Group improved from the first half of the year, while Chromalox saw marginal growth despite facing strong comparatives from last year.

The company said the integration of Thermocoax, which it acquired for €158m in May, had continued to progress well as its overall performance remained in line with expectations.

"Whilst, as always, we have limited visibility due to the short-term nature of our order book, we have good diversification across market sectors and geographic regions and remain focused on our strategies for growth, which, together with the group's fundamental strengths, stand us in good stead," it said.

At 1035 GMT, the shares were up 0.8% at 8,280p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SPX Market Data

Currency UK Pounds
Share Price 10,050.00p
Change Today -50.00p
% Change -0.50 %
52 Week High 11,855.00p
52 Week Low 8,058.00p
Volume 151,622
Shares Issued 73.77m
Market Cap £7,414m
RiskGrade 124

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.44% below the market average94.44% below the market average94.44% below the market average94.44% below the market average94.44% below the market average
88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average
Price Trend
2.29% below the market average2.29% below the market average2.29% below the market average2.29% below the market average2.29% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
97.23% below the market average97.23% below the market average97.23% below the market average97.23% below the market average97.23% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average83.84% above the market average
69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 8
Sell 5
Strong Sell 0
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SPX Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 12-Oct-23
Paid 24-May-24 10-Nov-23
Amount 114.00p 46.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 106,488 @ 10,050.00p
16:35 97 @ 10,050.00p
16:35 145 @ 10,050.00p
16:35 51 @ 10,050.00p
16:35 100 @ 10,050.00p

SPX Key Personnel

Chair Jamie Pike
CEO Nimesh Patel

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