Highlights
Solidperformance from Test and Measurement, In-line Instrumentation and Industrial Controls, with combined like-for-like (LFL) sales growth of 4%
Weaker than expected performance in the metals, minerals, mining and academic research sectors resulted in a LFL sales decline of 5% in the Materials Analysis segment
LFL sales growth of 1%, adversely impacted by weaker shipments in Q2
Adverse currency translation impacted sales and operating profit by 6pp and 5pp respectively
Dividend increased from 14.75p to 16p
Acquisition of La Corporation Scientifique Claisse in H1, with two additional bolt-on acquisitions completed in July
Robust cash conversion of 86%
Commenting on the results, John O'Higgins, Chief Executive, said: "In the first half, we saw a solid contribution from three of our four segments. However, this was impacted by weaker than expected performance during the second quarter. The second half will benefit from investments incurred in the first half for new product launches, regional growth initiatives and recent acquisitions. The businesses are strategically well positioned and the Board of Spectris believes that it will deliver second half performance in line with expectations."
