Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

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

Spirax-Sarco reports better-than-expected margins in new year

By Frank Prenesti

Date: Wednesday 12 May 2021

LONDON (ShareCast) - (Sharecast News) - Spirax‐Sarco Engineering said margins in the four months to April 30 were higher than expected after a rise in sales.


The company on Wednesday said its Watson-Marlow unit continued to experience "exceptional" Covid-19 vaccine-related demand from customers in the pharmaceutical and biotechnology sector.

"Group operating profit margin in the first four months of the year was higher than previously anticipated for the full year 2021, supported by the strong sales growth and higher operational gearing," Spirax said ahead of its annual shareholder meeting.

"The world is recovering faster than previously anticipated from the adverse economic effects of the COVID-19 pandemic, supported by sizeable fiscal stimulus packages."

Spirax said global industrial production was now forecast to expand 8.5% in 2021, compared to a forecast of more than 7% growth at the time of its final results in March.

"However, given the difficulties faced by many emerging economies in implementing their vaccination plans and the continued uncertainty surrounding the ability to resume normal international trading activities, it is plausible that these forecasts could be subject to revisions over the coming months," the company warned.

Watson-Marlow's organic growth in sales to the pharmaceutical & biotechnology sector would more than 55% in 2021 due to continuing strong Covid-19 related demand.

"This sector accounted for over 55% of Watson-Marlow's sales in 2020. We anticipate the Group's other revenue streams will deliver organic sales growth in 2021 above the increased forecast for global IP growth. Additionally, Electric Thermal Solutions ended 2020 with a higher than-normal order book, which should add at least a further £8m to sales in the year."

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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 11,855.00
52 Week Low 8,058.00
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
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Total 16
neutral
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SPX Dividends

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

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SPX Key Personnel

Chair Jamie Pike
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