Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

7,395.00p
   
  • Change Today:
    -135.00p
  • 52 Week High: 9,400.00
  • 52 Week Low: 5,900.00
  • Currency: UK Pounds
  • Shares Issued: 73.61m
  • Volume: 59,691
  • Market Cap: £5,444m
  • RiskGrade: 120

Spirax-Sarco full-year results boosted by acquisitions

By Michele Maatouk

Date: Thursday 15 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Full-year profit at Spirax-Sarco Engineering was boosted by strong organic growth and two "significant" acquisitions.
In the year to the end of December 2017, adjusted pre-tax profit was up 29% to £229.1m on revenue of £998.7m, up 32% on the previous year. Favourable FX movements increased sales on translation by 5%, while acquisitions - Spirax bought Gestra and Chromalox last year - added 20% to revenue and 14% to profit.

Meanwhile, adjusted basic earnings per share were up 29% at 220.5p and the company declared a final dividend of 62p per share, up 16% from 2016.

Spirax said it expects a slight softening in market conditions this year, with industrial production staying positive but at lower levels than seen in 2017. Brexit negotiations and uncertainty are likely to remain a key factor affecting market conditions in the region, while political elections in Italy and ongoing political uncertainties in Germany could cause some turbulence.

Nevertheless, the company said it remains confident in its ability to deliver above market growth rates as it implements its strategy for growth and develops Gestra.

Chief executive Nicholas Anderson said: "I am very pleased with the results delivered in 2017, which again demonstrate the robustness of our strategy and strong direct sales business model. We achieved good organic growth and excluding currency and acquisition effects, maintained the organic margin.

"We are pleased to report that the two acquisitions that we made in the year have been successfully brought into the Spirax Sarco Group and are progressing to plan. We increased investment in 2017 and, during 2018, we will again prioritise accelerating revenue and capital investments for growth over further margin expansion, to ensure that we continue delivering organic sales growth that outperforms our markets. Assuming no significant deterioration in trading conditions, the board expects to make further progress in 2018."

At 0920 GMT, the shares were up 4.8% to 6,020p.

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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 7,395.00p
Change Today -135.00p
% Change -1.79 %
52 Week High 9,400.00
52 Week Low 5,900.00
Volume 59,691
Shares Issued 73.61m
Market Cap £5,444m
RiskGrade 120

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.32% below the market average99.32% below the market average99.32% below the market average99.32% below the market average99.32% 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
Price Trend
56.11% above the market average56.11% above the market average56.11% above the market average56.11% above the market average56.11% above the market average
36.59% above the sector average36.59% above the sector average36.59% above the sector average36.59% above the sector average36.59% above the sector average
Income
90.56% below the market average90.56% below the market average90.56% below the market average90.56% below the market average90.56% below the market average
91.67% below the sector average91.67% below the sector average91.67% below the sector average91.67% below the sector average91.67% below the sector average
Growth
77.05% above the market average77.05% above the market average77.05% above the market average77.05% above the market average77.05% above the market average
63.16% above the sector average63.16% above the sector average63.16% above the sector average63.16% above the sector average63.16% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 9
Sell 0
Strong Sell 3
Total 14
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
  Interim Final
Ex-Div 10-Oct-19 25-Apr-19
Paid 08-Nov-19 24-May-19
Amount 32.00p 71.00p

Trades for 16-Oct-2019

Time Volume / Share Price
10:59 37 @ 7,395.00p
10:59 50 @ 7,395.00p
10:59 32 @ 7,395.00p
10:58 67 @ 7,395.00p
10:58 30 @ 7,400.00p

SPX Key Personnel

CEO Nicholas John Anderson
Chair Jamie Pike

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