skip to content

Trading statements

Spirax-Sarco says overall expectations unchanged

09 May 2017 07:22

Spirax-Sarco Engineering said its overall expectations of organic growth for the full-year are unchanged and provided there is no material deterioration in trading conditions directors are confident of further progress in 2017.

"Increasing Industrial Production growth rates have, as expected, provided an improving operating environment in the first four months of the year, positively impacting the Group's results," the company said.

"Organic growth rates in the Steam Specialties business have been accentuated by the slow start seen in 2016 and we would expect these to moderate by the half year, due to last year's strong second quarter."

It said the Watson-Marlow business continued to show good growth but, as anticipated, at a reduced rate to the prior year.

"We are pleased with the Gestra acquisition that along with the acquisition of Aflex in late 2016 is expected to deliver high single-digit inorganic growth in the year."

Spirax-Sarco said it had good diversification across market sectors and geographic regions and remained focused on its strategies for growth.

"While, as normal, we continue to have limited visibility, with short order books, the Group's fundamental strengths stand us in good stead to continue to deliver growth that outperforms our markets.

"Our overall expectations of organic growth for the full-year are unchanged and provided there is no material deterioration in trading conditions the Board has confidence that the Group will make further progress in 2017."

Story provided by StockMarketWire.com

Related Company: SPX

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Aberdeen Ediston

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.