Tuesday 24 February 2009
2008 PRELIMINARY RESULTS
Spectris plc, the productivity-enhancing instrumentation and controls company, announces preliminary results for the year ended 31 December 2008.
| Key operational indicators | 2008 | 2007 | Change | Change at CER** |
| Sales from continuing businesses (£m) # | 787.1 | 659.8 | +19% | +7% |
| Adjusted operating profit from continuing businesses (£m) # * | 118.3 | 104.3 | +13% | +2% |
| Adjusted profit before tax (£m) * | 110.1 | 98.0 | +12% | |
| Adjusted earnings per share (pence) * | 72.8 | 58.1 | +25% | |
| Dividend (pence) | 23.4 | 21.0 | +11% | |
| Statutory | | | | |
| Total group sales (£m) | 787.1 | 668.4 | +18% | |
| Total group operating profit (£m) | 113.7 | 102.9 | +10% | |
| Profit before tax § | 106.1 | 118.1 | -10% | |
| Basic earnings per share (pence) | 70.3 | 70.9 | -1% | |
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# Continuing businesses exclude businesses divested
* Adjusted figures exclude certain non-operational items as defined in Note 2
** Constant exchange rates
§ Profit before tax in 2007 included a gain of £19m from the businesses divested
Highlights
- All major regions grew sales at constant currencies
- Good progress on delivery of strategy
- Acquisitions increase presence in key markets
- Strong balance sheet; interest covered 14 times
- Dividend increased by 11%
Commenting on the results, John O’Higgins, Chief Executive, said:
“Spectris achieved a good performance in 2008, in spite of an economic environment which deteriorated during the second half of the year. The current market conditions continue to be challenging and offer very limited visibility. We have taken, and continue to take, timely actions to reduce operating costs and, should the outlook deteriorate further, we will not hesitate to take additional steps. As a result of the phasing of restructuring costs and their associated benefits, the balance between first and second half year profitability is expected to be materially different from past years. The group is in a strong financial and strategic position and we consider that the actions we are taking are appropriate in the near-term whilst retaining in our businesses the resources to support growth as market demand recovers.”
To download a copy of the full announcement in pdf format click here.
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