Spectris (SXS)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,047.00p
   
  • Change Today:
    -36.00p
  • 52 Week High: 4,094.00p
  • 52 Week Low: 2,380.00p
  • Currency: UK Pounds
  • Shares Issued: 111.60m
  • Volume: 307,729
  • Market Cap: £4,516.32m
  • RiskGrade: 107

Spectris to return cash to shareholders after 'resilient' year

By Abigail Townsend

Date: Thursday 25 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Engineering firm Spectris is to return more than £200m to shareholders through a share buyback programme and increased dividend, despite swinging to a full-year loss.
The FTSE 250 firm said both its balance sheet and cash generation were strong, allowing to it reverse temporary cost measures and restate full-time working for the majority of workers.

It has also allowed it to increase the dividend by 5% to 68.4p per share, and launch a £200m share buyback.

The update came as Spectris, a specialist in precision measurement technology, posted an 11% slide in adjusted underlying sales in the year to 31 December, to £1.34bn, while operating profits declined 26% on the same basis to £173.6m. Both figures were ahead of analyst expectations, however.

Earnings per share of 112.1p, a 33% decline, also came in ahead of forecasts.

The statutory operating loss was £23.3m compared to a profit of £84.3m a year previously, following restructuring costs and impairment charges primarily relating to Millbrook. Spectris agreed to sell the vehicle testing business sell to French firm UTAC last December.

Chief executive Andrew Heath said: "2020 delivered challenges on many fronts as a result of Covid-19.

"Throughout 2020 we consciously and purposefully took a balanced, socially responsible approach to managing our business, consistent with our culture and values, ensuring we addressed the needs of all our stakeholders. I believe we have been successful on that front and as a result, the group delivered a highly resilience performance.

"Although sales were down notably, I am pleased with our underlying margin performance in the circumstances, which was helped by the swift actions take and the continued executive of our improvement programme."

Looking to the current year, Heath said the stronger order intake seen in the last three months of 2020 "provides momentum for the first quarter of 2021, although clearly much uncertainly remains, and we expect the immediate economic backdrop to remain challenging".

"However, the actions taken last year position the group well for any market recovery in 2021."

As at 0945 GMT, shares in Spectris were off 3% at 2,994.0p.

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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.

 

Spectris Market Data

Currency UK Pounds
Share Price 4,047.00p
Change Today -36.00p
% Change -0.88 %
52 Week High 4,094.00p
52 Week Low 2,380.00p
Volume 307,729
Shares Issued 111.60m
Market Cap £4,516.32m
RiskGrade 107

Spectris Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
53.02% below the market average53.02% below the market average53.02% below the market average53.02% below the market average53.02% below the market average
65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average
Price Trend
74.39% above the market average74.39% above the market average74.39% above the market average74.39% above the market average74.39% above the market average
18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average
Income
55.35% below the market average55.35% below the market average55.35% below the market average55.35% below the market average55.35% below the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average
Growth
50.39% below the market average50.39% below the market average50.39% below the market average50.39% below the market average50.39% 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
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

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 24-Sep-2021

Time Volume / Share Price
16:35 94,723 @ 4,047.00p
16:29 1 @ 4,055.00p
16:29 4 @ 4,055.00p
16:29 1 @ 4,055.00p
16:29 50 @ 4,055.00p

Spectris Key Personnel

CEO Andrew Heath
CFO Derek Harding

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