Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

12,700.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 17,135.00
  • 52 Week Low: 10,710.00
  • Currency: UK Pounds
  • Shares Issued: 73.77m
  • Volume: 139,957
  • Market Cap: £9,368m
  • RiskGrade: 124
  • Beta: 0.03

Spirax-Sarco experiences 'very strong demand', impacted by supply chain and FX headwinds

By Iain Gilbert

Date: Wednesday 17 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Manufacturing company Spirax-Sarco Engineering said on Wednesday that it had experienced "very strong demand" in the four months ended 31 October but cautioned that it was "not immune" to supply chain challenges and currency exchange headwinds.
Spirax-Sarco stated that in the third quarter, global industrial production grew 4.9%, bouncing back from Covid-19 impacted levels seen in 2020. However, disruptions in global supply chains, which led to material shortages and rising costs, resulted in "a slight" quarter-on-quarter sequential contraction of global IP and led the group to downwardly revise full-year forecasts for 2021 to 7.4% from the 8.6% forecast at the time of its interim results. Full-year 2022 forecasts were also cut to 4.3% from 5.0%.

On the other hand, Spirax-Sarco noted that order books in all three of its businesses had expanded in the four months to the end of October, above expectations at the time of its interim results, with growth in orders highest in its Watson-Marlow unit, driven by continued Covid-19 vaccine-related demand from its customers in the pharmaceutical and biotechnology sector.

However, the FTSE 100-listed firm warned that all three businesses had been "somewhat impacted" by shipment delays, with the effects being greater within the Watson-Marlow and Electric Thermal Solutions divisions.

Spirax-Sarco also cautioned that currency effects had an adverse impact on sales and operating profit, stating that if current exchange rates were to prevail for the remainder of the year, it anticipates close to a 4% adverse impact on full-year sales and profit.

With that said, Spirax still opted to maintain overall full-year guidance and said it expects to report record levels of revenues, profits and operating margins.

As of 0840 GMT, Spirax-Sarco shares were down 4.85% at 16,180.0p.

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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 12,700.00p
Change Today 10.00p
% Change 0.08 %
52 Week High 17,135.00
52 Week Low 10,710.00
Volume 139,957
Shares Issued 73.77m
Market Cap £9,368m
Beta 0.03
RiskGrade 124

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.97% below the market average90.97% below the market average90.97% below the market average90.97% below the market average90.97% below the market average
93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average
Price Trend
26.20% above the market average26.20% above the market average26.20% above the market average26.20% above the market average26.20% above the market average
5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average
Income
93.16% below the market average93.16% below the market average93.16% below the market average93.16% below the market average93.16% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Growth
12.37% above the market average12.37% above the market average12.37% above the market average12.37% above the market average12.37% above the market average
81.25% above the sector average81.25% above the sector average81.25% above the sector average81.25% above the sector average81.25% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 10
Sell 1
Strong Sell 3
Total 15
neutral
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SPX Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Oct-21 22-Apr-21
Paid 12-Nov-21 21-May-21
Amount 38.50p 84.50p

Trades for 25-Jan-2022

Time Volume / Share Price
16:45 4 @ 12,730.00p
16:45 4 @ 12,730.00p
16:35 73,471 @ 12,700.00p
16:29 4 @ 12,730.00p
16:29 3 @ 12,730.00p

SPX Key Personnel

CEO Nicholas John Anderson
Chair Jamie Pike

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