Spectris posts record operating profits, raises guidance
Spectris
2,500.00p
12:39 22/11/24
0.97%
24.00p
Spectris posted a big jump in first half sales for record profits, leading management to raise its full-year guidance.
Electronic & Electrical Equipment
9,938.75
12:34 22/11/24
1.81%
176.31
FTSE 250
20,587.41
12:39 22/11/24
n/a
n/a
FTSE 350
4,534.71
12:40 22/11/24
n/a
n/a
FTSE All-Share
4,490.53
12:40 22/11/24
n/a
n/a
The precision instrumentation and controls manufacturer posted a 23% jump in half-year sales driven by a mix of volume and market share growth. together with higher prices.
Adjusted operating profits were up by 41% to a record £102.1n and the company's book-to-bill ratio neared 1.0 as order intake normalised.
Management also upgraded its guidance, telling shareholders that full-year organic sales were now seen rising by more than the 6-7% previously anticipated.
Adjusted operating profits for the year were seen coming in at between £250-265m.
-- More to follow --