Shares in the FTSE-100 listed engineering company Spirax surged this morning after the company published half year results. Despite the challenging macroeconomic backdrop, the numbers were in line with expectations. This also highlighted organic sales growth, improved cash conversion and proved sufficient to deliver a 3% uptick in dividends. The Spirax share price jumped 16% in early trade.
Half year numbers from the Spanish copper miner Atalaya are out today with revenues and profits materially higher than seen in the comparative period. Cost control and the mining of higher grade copper have both combined to drive the numbers, whilst the full year outlook has also been upgraded. Production is set to be as much as 10% higher than previously stated whilst costs are down around 4%, too. The Atalaya share price was up 9% shortly after the open.
Recruiters PageGroup published half year results this morning which showed no real let up in the stresses being seen by the sector. There was some cause for cheer with signs of growth in Asia and US markets highlighted, whilst the interim dividend is being maintained despite the collapse in profits. Cost savings initiatives continue, but the net cash position of £57m a year ago has dwindled to just £10m. The bad news however seems to be largely priced in and the PageGroup share price was down just over 3% by 8.30am.
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