- Sales from continuing businesses up by 8% at constant currencies,
organic sales up by 6% - Continued margin expansion and increased R&D investment
- All business segments grew sales and profits at constant currencies
- All regions grew sales at constant currencies; Asia up by 11%
- Strong balance sheet provides flexibility for further growth
| Key operational indicators | 2008 Half year |
2007 Half year |
Change | Change at CER** | ||||
| Sales from continuing businesses (£m)# | 358.5 | 308.7 | +16% | +8% | ||||
| Adjusted operating profit from continuing businesses (£m)#* | 46.4 | 39.4 | +18% | +15% | ||||
| Adjusted operating profit (£m)* | 46.4 | 39.9 | +16% | |||||
| Adjusted profit before tax (£m)* | 42.6 | 36.8 | +16% | |||||
| Adjusted earnings per share (pence)* | 26.6 | 20.8 | +28% | |||||
| Dividend (pence) | 6.4 | 5.75 | +11% | |||||
| |
||||||||
| Statutory | ||||||||
| Sales (£m) | 358.5 | 317.3 | +13% | |||||
| Operating profit (£m) | 44.7 | 36.8 | +15% | |||||
| Profit on disposal of businesses and net finance items (£m) | (5.6) | 17.5 | ||||||
| Profit before tax (£m) | 39.1 | 56.4 | -31% | |||||
| Basic earnings per share (pence) | 23.5 | 33.4 | -30% | |||||
| # Continuing businesses exclude businesses divested * Adjusted figures exclude certain non-operational items as defined in Note 2 ** Constant exchange rates |
||||||||
Commenting on the results, John O'Higgins, Chief Executive, said:
“With sales, profits and margins all showing increases compared with the prior year, Spectris has had an excellent first half. Orders to date continue to be encouraging. Our balance sheet and financial position remain strong and we believe the diversity of the end markets and geographies we serve, as well as our focus on enhancing customers' productivity, should provide both resilience and growth opportunities. Looking forward, we continue to anticipate results in line with expectations for the remainder of 2008."