Tuesday 25 August 2009
2009 INTERIM RESULTS
Spectris plc, the productivity-enhancing instrumentation and controls company, announces interim results for the six months ended 30 June 2009.
| Key operational indicators | 2009 Half year | 2008 Half year | Change | Change at CER** |
| Sales (£m) | 371.5 | 358.5 | +4% | -13% |
| Adjusted operating profit (£m) * | 20.0 | 46.4 | -57% | -63% |
| Adjusted profit before tax (£m) * | 14.3 | 42.6 | -66% | |
| Adjusted earnings per share (pence) * | 9.4 | 26.6 | -65% | |
| Dividend (pence) | 6.4 | 6.4 | - | |
| Statutory |
|
|
|
|
| Profit before tax (£m) | 8.6
| 39.1
| -78%
| |
Basic earnings per share (pence)
| 6.5 | 23.5 | -72% | |
* Adjusted figures exclude certain non-operational items, as defined in Note 2, but include post-acquisition integration and restructuring charges of £7.0m (H1 08: £0.2m)
** Constant exchange rates
Highlights
• Targeted cost reduction limits impact of lower sales on operating profit
• Restructuring and acquisition integration actions on track, benefiting performance in second half
• Cash conversion of 164%
• Strong balance sheet; ample financing headroom
• Dividend maintained
Commenting on the results, John O’Higgins, Chief Executive, said:
“After a challenging first half, visibility of customer demand remains limited. However, we expect to see an improving performance in the second half resulting from the benefits of the restructuring and post-acquisition integration actions, a continuation of recent market trends, and contributions from new products. We have a good strategic and financial position, the planned restructuring and acquisition integration actions are on track, and we remain confident that we are well placed for a more sustained recovery when our markets return to growth.”
To download a copy of the full announcement in pdf format click here.
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