Spectris plc, the productivity-enhancing instrumentation and controls company, announces interim results for the six months ended 30 June 2011.
| Key operational indicators (£m) | H1 2011
| H1 2010
| Change
| Change at CER **
| Organic change at CER*** |
| Revenue | 507.2 | 405.1 | +25% | +26% | +21% |
| Adjusted operating profit* | 81.5 | 49.9 | +63% | +64% | +55% |
| Adjusted profit before tax* | 77.7 | 44.7 | +74% | | |
| Adjusted earnings per share* | 50.2p | 29.4p | +71% | | |
| Adjusted return on sales* | 16.1% | 12.3% | +3.8pp | | |
| Cash conversion* | 78% | 133% | -55pp | | |
| Dividend | 8.2p | 7.1p | +15% | | |
| Statutory |
|
|
|
|
| Operating profit | 72.6 | 44.1 | +65% | |
| Profit before tax | 70.8 | 40.3 | +76% | |
| Basic earnings per share | 46.2p | 28.7p | +61% | |
* Adjusted figures exclude certain non-operational items, as defined in Note 2
** At constant exchange rates *** At constant exchange rates excluding acquisitions
Highlights
• Double-digit sales and profit increase in all segments
• Strong growth in all four regions
• Contribution from 2010 acquisitions ahead of expectations
• Record first half operating profit and earnings per share
• Cash conversion at top end of our expectations
• Agreement reached to acquire Omega Engineering for $475 million
• Dividend up by 15%
Commenting on the results, John O’Higgins, Chief Executive, said:
“We are very encouraged by the excellent results in the first half, delivering double-digit sales and profit growth in all four of our business segments. Trading in the weeks since our last update on 15 July has remained in line with our expectations. We continue to expect that growth rates will revert to more normal levels following the strong recovery in the second half of 2010. The focus we maintained on all aspects of our strategy continues to deliver results and we remain confident that Spectris will make good progress for the full year.”
To download a copy of the full announcement in pdf format click here.
Back
