Feb 20 British engineering company Spectris Plc
said full-year operating profit rose 12 percent as sales
in its industrial controls business almost doubled, helped by
acquisitions it made in 2011.
Spectris, which makes testing and precision measuring
equipment for the mining, oil and gas, pharmaceuticals and
transportation industries, said operating profit rose to 196.5
million pounds ($303.5 million) in 2012 from 175.8 million
pounds last year.
Sales grew 11 percent to 1.23 billion pounds. Acquisitions
contributed 10 percent to sales growth.
Sales at the company's industrial controls business, which
makes sensors and controllers used to measure and regulate
temperature, humidity, and pressure, grew to 217.2 million
pounds from 112.9 million a year earlier.
Spectris' acquisitions of Omega Engineering and Sixnet
towards the end of 2011 boosted the industrial controls
About a third of Spectris' sales came from Asia, including
China, Japan and South Korea, which gave it a degree of
protection from the tumultuous European manufacturing sector.
Revenue from Europe fell 1 percent.
A struggling European economy has hurt engineering
toolmakers. Spectris' rivals IMI Plc and Rotork Plc
warned last year of tougher times ahead.
Spectris shares, which gained about 42 percent over the past
year, closed at 2425 pence on the London Stock Exchange on