Spectris (SXS)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

3,973.00p
   
  • Change Today:
      18.00p
  • 52 Week High: 4,051.00
  • 52 Week Low: 2,380.00
  • Currency: UK Pounds
  • Shares Issued: 111.97m
  • Volume: 692,186
  • Market Cap: £4,448.62m
  • RiskGrade: 107

Spectris April sales hit by Covid-19 lockdowns

By Frank Prenesti

Date: Friday 22 May 2020

LONDON (ShareCast) - (Sharecast News) - April like-for-like sales at scientific instrument maker Spectris fell 21% as it felt the impact of the coronavirus pandemic.
The company on Friday said North America and the academic research and automotive end markets, had taken the brunt of the hit as lockdowns globally took effect.

Group like-for-like sales fell 12% in the four months to April 30. Disposals reduced sales by 9%, partly offset by a 1% favourable foreign currency exchange movement, resulting in a 20% decrease in reported sales, Spectris said.

"From an end market perspective, like-for-like sales in the period were down more sharply in metals, minerals and mining where investments are being put on hold as demand for metals-based products declines, and academic research, as universities and research institutes closed their doors," the company said in a trading update.

"Machine manufacturing was the only end market to see growth in the period, with good onward demand from process, food and medical markets."

Spectris said Asian like-for-like sales fell 20%, driven by China, although the country rebounded strongly in April as pent up demand translated to revenue.

In Europe and North America sales for the four-month period were 13% and 6% lower, respectively, reflecting the later phasing of the start of the lockdowns in those regions, it added.

The group continued to be highly cash generative, with a cash conversion of more than 150% for the period. At the end of April, Spectris had net cash of £59.9m compared with £33.5m the end of 2019, with a cash balance of £244.2m and gross borrowings of £184.3m.

"The group has £827.5m of committed banking facilities and has access to a number of uncommitted and bank overdraft facilities," Spectris said.

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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.

 

Spectris Market Data

Currency UK Pounds
Share Price 3,973.00p
Change Today 18.00p
% Change 0.46 %
52 Week High 4,051.00
52 Week Low 2,380.00
Volume 692,186
Shares Issued 111.97m
Market Cap £4,448.62m
RiskGrade 107

Spectris Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.89% below the market average51.89% below the market average51.89% below the market average51.89% below the market average51.89% below the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Price Trend
72.04% above the market average72.04% above the market average72.04% above the market average72.04% above the market average72.04% above the market average
8.11% above the sector average8.11% above the sector average8.11% above the sector average8.11% above the sector average8.11% above the sector average
Income
53.24% below the market average53.24% below the market average53.24% below the market average53.24% below the market average53.24% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
49.9% below the market average49.9% below the market average49.9% below the market average49.9% below the market average49.9% below the market average
70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average70.59% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 4
Sell 0
Strong Sell 2
Total 13
buy
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Spectris Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Oct-21 13-May-21
Paid 12-Nov-21 30-Jun-21
Amount 23.00p 46.50p

Trades for 17-Sep-2021

Time Volume / Share Price
16:59 6,379 @ 3,973.00p
16:47 6,379 @ 3,973.00p
16:40 3,533 @ 3,973.00p
16:35 425,172 @ 3,973.00p
16:29 1 @ 3,967.00p

Spectris Key Personnel

CEO Andrew Heath
CFO Derek Harding

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