SPECTRIS PLC: 2011 YEAR END TRADING UPDATE

RNS Number : 4903V

Spectris PLC

13 January 2012

 



13 January 2012

SPECTRIS PLC: 2011 YEAR END TRADING UPDATE

Spectris plc, the productivity-enhancing instrumentation and controls company, today issues an update on trading for the twelve months ending 31 December 2011.

TRADING UPDATE

Trading in 2011 was strong across all business segments, regions and end markets, resulting in record sales and operating profit. Sales for the full year, on a reported basis, are expected to be approximately 23% higher than in 2010, including a contribution from acquisitions of 7% and a positive currency effect of 1%. On a constant currency organic (like-for-like) basis, sales are expected to increase by approximately 15%.

Regionally, sales in Asia Pacific are expected to grow by around 17% on a like-for-like basis, with continued strength in China. North America is expected to grow by approximately 14% and Europe by around 13%.

Adjusted operating profit is expected to be in the region of £200 million (2010: £142.1 million), giving an adjusted operating margin of approximately 18% (2010: 15.8%). Margins in each of the four segments will exceed 15%, with the largest year-on-year increase in the Test and Measurement segment.

The acquisitions made in the year performed well, in particular Omega Engineering, where results were ahead of our expectations.

Operating cash conversion was strong and our financial position remains healthy, with net debt in line with expectations.

OUTLOOK

Commenting on the results, John O'Higgins, Chief Executive, said: "We are very pleased with the results achieved in 2011, and particularly with the strong close to the year. Looking ahead, the macro-economic outlook is uncertain. Our recent acquisitions bring more resilient earnings whilst providing opportunities in growth markets and the Board is therefore confident that Spectris is strategically well positioned for the coming year."

The company's full year results will be released on 17 February 2012.

CONFERENCE CALL - change to previous notification 

A conference call for analysts and investors will be held at 08.45 (UK time) today to discuss this statement. For dial-in details, please contact FTI Consulting on [phone].

- ENDS -

ABOUT SPECTRIS

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets.

Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, England, the company employs approximately 7,500 people, with offices in more than 30 countries.

For more information, visit www.spectris.com

Copies of this announcement are available from the company's registered office at

Station Road, Egham, Surrey TW20 9NP and on the company's website at www.spectris.com

Contacts:

Spectris plc

John O'Higgins, Chief Executive                       01784 470470

Clive Watson, Group Finance Director              01784 470470

FTI Consulting

Richard Mountain                                            020 7269 7186

 

END

 

 

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