10 Jan 2002
Spectris plc, the precision instrumentation and controls company, today issues a year end update ahead of its results for the year ending 31 December 2001. The intention is to issue year end updates annually in the future.
The anticipated outcome for 2001 is that profit (before exceptional items and goodwill amortisation) will be similar to that of 2000 and in line with recent market expectations.
The subdued order intake, a traditional feature of the summer months, continued during the fourth quarter as the macroeconomic environment weakened, particularly in the US.
Positive actions taken to restructure the business, consistent with probable forward levels of demand, will result in an exceptional charge in 2001 estimated to be £5.5m (excluding Spectris AG). The total exceptional charge (2000 and 2001) in respect of the Spectris AG acquisition is estimated to be £14m.
Although current activity levels suggest that performance will be little changed in 2002 compared to 2001, the company is operationally geared for a possible recovery.
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