Spectris Plc
2012 INTERIM RESULTS
Spectris plc, the productivity-enhancing instrumentation and controls company, announces interim results for the six months ended 30 June 2012.
|
Key operational indicators (£m) |
H1 2012 |
H1 2011 |
Change | Growth at CER | LFL growth |
|
Sales |
596.7 |
507.2 |
+18% |
+18% |
+4% |
|
Adjusted operating profit* |
98.0 |
81.5 |
+20% |
+21% |
+4% |
|
Adjusted profit before tax* |
92.0 |
77.7 |
+18% |
|
|
|
Adjusted earnings per share* |
58.2p |
50.2p |
+16% |
|
|
|
Adjusted return on sales* |
16.4% |
16.1% |
+0.3pp |
|
|
|
Dividend |
13.5p |
8.2p |
+65% |
|
|
|
Operating profit |
79.4 |
72.6 |
+9% |
|
|
|
Profit before tax |
75.4 |
70.8 |
+6% |
|
|
|
Basic earnings per share |
49.4p |
46.2p |
+7% |
|
|
Highlights
- Good first half performance, particularly in the context of a challenging macro-economic climate, with underlying operating margins up compared with prior year
- Integration of Omega proceeding well
- Regionally, North America and Asia strong; Europe slightly down
- Cash conversion of 86%, up 8pp compared with H1 2011
- Interim dividend up by 65% to rebalance H1/H2 weighting: up 15% before rebalancing
Commenting on the results, John O'Higgins, Chief Executive, said:
"Spectris delivered a good first half performance, particularly in the context of a challenging macro-economic climate, with recent acquisitions making an important contribution. Notwithstanding the current business environment, we maintain the focus on our strategic initiatives which will continue to enhance our broad geographic and end market exposure and further increase the proportion of revenues from more resilient customer operating budgets. We therefore remain confident in our ability to continue to make progress in the remainder of the year."
