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Prices & Quotes - UK Markets - Spirax-Sarco Engineering (SPX)

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Share Price:
Down 11,555.00p
Change Today:
-245.00p
Market Cap:
8,520m
Sector:
Industrial Engineering

Spirax-Sarco FY profit beats views after better-than-expected Q4

By Michele Maatouk

Date: Wednesday 10 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Spirax-Sarco Engineering reported a better-than-expected full-year profit on Wednesday, while revenues were in line after a stronger-than-anticipated fourth quarter.
Adjusted pre-tax profit for 2020 dipped 5% on the year to 261.5m on revenue of 1.19bn, down 4%. Analysts had been expecting profit of 251.6m. The company noted that its revenue performance came against the backdrop of a 4% to 5% contraction in global industrial production.

Spirax lifted its total dividend by 7% to 118p a share.

In the company's Steam Specialties business, adjusted operating profit fell 9% on an organic basis to 154.3m, while the Electric Thermal Solutions division delivered an adjusted operating profit of 24.6m, down 11% on an organic basis.

In the Watson‐Marlow business, profit was up 15% organically.

Chief executive Nicholas Anderson said: "Following a stronger than anticipated fourth quarter, we are very pleased with the group's performance in 2020, given the unprecedented circumstances caused by the Covid-19 pandemic.

"Sales were down in the Steam Specialties and Electric Thermal Solutions businesses, although their performance was still robust given the challenging market conditions. The excellent growth in Watson-Marlow was driven by the Pharmaceutical & Biotechnology sector, where demand accelerated due to Covid-19 vaccine development and production. The improved outlook for industrial production growth, strong order book, robust prospects for Watson-Marlow and continued investments leave us well-placed for 2021."

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SPX Market Data

Currency UK Pounds
Price 11,555.00p
Change Today -245.00p
52 Week High 12,285.00p
52 Week Low 8,836.00p
Volume 119,439
Shares Issued 73.74m
Market Cap 8,520m
Beta 0.03

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 9
Sell 0
Strong Sell 6
Total 16
sell
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SPX Dividends

  Latest Previous
  Final Interim
Ex-Div 22-Apr-21 08-Oct-20
Paid 21-May-21 06-Nov-20
Amount 84.50p 33.50p

Trades for 11-May-2021

Time Volume / Share Price
16:48 8,937 @ 11,534.81p
16:35 35,906 @ 11,555.00p
16:29 1 @ 11,545.00p
16:29 18 @ 11,555.00p
16:29 11 @ 11,550.00p

SPX Key Personnel

CEO Nicholas John Anderson
Chair Jamie Pike