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Spirax-Sarco Engineering PLC (SPX.L)

SPX.L on London Stock Exchange

6,440.00GBp
22 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Spirax-Sarco Engineering Posts FY Adjusted Pretax Profit Of 229.1 Mln Stg
Thursday, 15 Mar 2018 03:00am EDT 

March 15 (Reuters) - Spirax-Sarco Engineering Plc ::FY PRETAX PROFIT 192.5 MILLION STG VERSUS 171.4 MILLION STG YEAR AGO.FY ADJUSTED PRETAX PROFIT 229.1 MILLION STG.FINAL DIVIDEND UP 16 PERCENT TO 62 PENCEPER SHARE.TOTAL DIVIDEND UP 15.1 PERCENT TO 87.5 PENCEPER SHARE.FY SALES 1.0 BILLION STG.‍BOARD EXPECTS TO MAKE FURTHER PROGRESS IN 2018​.  Full Article

Spirax-Sarco Engineering Says ‍Chairman Indicates Intention To Retire​ After AGM
Wednesday, 14 Feb 2018 02:00am EST 

Feb 14 (Reuters) - Spirax-Sarco Engineering Plc ::‍CHAIRMAN, BILL WHITELEY, INDICATED HIS INTENTION TO RETIRE FROM BOARD AFTER ANNUAL GENERAL MEETING ON 15 MAY 2018 (AGM)​.‍IT IS PROPOSED THAT JAMIE PIKE, CURRENT SENIOR INDEPENDENT DIRECTOR, WILL TAKE OVER AS CHAIRMAN WITH EFFECT FROM CLOSE OF AGM​.  Full Article

Spirax-Sarco Engineering says H1 adjusted pretax profit rose 30 pct
Wednesday, 9 Aug 2017 02:00am EDT 

Aug 9 (Reuters) - Spirax-sarco Engineering Plc :H1 ADJUSTED PRETAX PROFIT ROSE 30 PERCENT TO 99.2 MILLION STG.INTERIM DIVIDEND 25.5 PENCEPER SHARE.ANTICIPATE THAT CURRENCY EFFECTS WILL HAVE A SIGNIFICANTLY LOWER IMPACT IN SECOND HALF OF YEAR.EXPECT ACQUISITIONS TO ADD APPROXIMATELY 20% SALES GROWTH IN FULL YEAR.HY ADJUSTED OPERATING PROFIT MARGIN 23.6 PERCENT VERSUS 22.5 PERCENT YEAR AGO.ANTICIPATE MARKETS WILL REMAIN RELATIVELY STABLE FOR REMAINDER OF THIS YEAR, ALBEIT WITH SOME REGIONAL VARIATIONS.HY ADJUSTED PROFIT BEFORE TAX 99.2 MILLION POUNDS VERSUS 76.2 MILLION POUNDS YEAR AGO.HY REVENUE 428.6 MILLION POUNDS VERSUS 344 MILLION POUNDS YEAR AGO.HY DIVIDEND PER SHARE 25.5 PENCE VERSUS 22.5 PENCE YEAR AGO.HY STATUTORY PROFIT BEFORE TAX 88.5 MILLION POUNDS VERSUS 73.4 MILLION POUNDS YEAR AGO.HY ADJUSTED BASIC EPS 95.5 PENCE.  Full Article

Spirax-Sarco Engineering expects to make progress in 2017
Tuesday, 9 May 2017 02:00am EDT 

May 9 (Reuters) - Spirax-sarco Engineering Plc ::Trading update.As anticipated, organic sales growth for group in first four months of year was above that of same period in prior year.Phasing of sales in current year will be more closely aligned to historic patterns than seen in 2016.All geographic segments of steam specialties business are showing organic growth with a particularly good performance from asia pacific.Overall expectations of organic growth for full-year are unchanged.In USA sales were flat although we have seen beginnings of a recovery in sales to our distributor network.Says board has confidence that group will make further progress in 2017.A net cash balance of £60 million at 30th April 2017.  Full Article

Spirax-Sarco to buy Flowserve Corp's Gestra for 186 million euros
Monday, 3 Apr 2017 02:33am EDT 

Spirax-Sarco Engineering Plc : Acquisition of Gestra for eur 186 million (£160 million) . Signed a conditional sale and purchase agreement to acquire Gestra AG and associated businesses from Flowserve Corporation . Acquisition will be accretive to earnings in 2017 but is expected to have a slightly dilutionary impact on group profit margin in this year . The purchase consideration will be financed from a combination of existing cash resources and debt facilities . Completion is subject to certain customary conditions, including regulatory approval by merger control authority in Germany .These conditions are expected to be satisfied during current quarter.  Full Article

Spirax-Sarco posts FY pre-tax profit of 177.9 mln stg
Thursday, 9 Mar 2017 02:00am EST 

Spirax-Sarco Engineering Plc : FY adjusted pretax profit 177.9 million stg versus 151.1 million stg year ago . Final dividend up 11 percent to 53.5 pence per share . Total dividend up 10.1 percent to 76 penceper share . FY sales rose 4 percent to 757.4 million stg . FY revenue of 757.4 million stg versus 667.2 million stg year ago . Says outlook for 2017 remains unclear, with continued political and economic uncertainty in a number of its key markets .Says in 2017 the Co could see a further favourable benefit from foreign exchange as 2017 will include full year of post-brexit referendum currency rate.  Full Article

Engineer Spirax-Sarco buys Aflex Hose for 61.4 million stg
Wednesday, 30 Nov 2016 02:29am EST 

Spirax-Sarco Engineering Plc : Acquisition . Acquires Aflex Hose Limited for 61.4 million stg . Business will be integrated into Watson-Marlow Fluid Technology Group (WMFTG) . Senior Aflex management will remain with business. . Purchase consideration is on a debt free and cash free basis, and will be financed from Spirax Sarco's existing resources .Acquisition will have a negligible impact on group earnings in current year.  Full Article

Spirax-Sarco buys Brazilian valve manufacturer's assets for 3.9 mln stg
Tuesday, 9 Aug 2016 02:37am EDT 

Spirax-sarco Engineering Plc :Spirax Sarco acquires assets of Brazilian valve manufacturer for 3.9 mln stg.  Full Article

UPDATE 1-Valve maker Spirax-Sarco posts better-than-expected profit, revenue

March 15 Spirax-Sarco Engineering Plc reported better-than-expected full-year revenue and adjusted pretax profit on Thursday, helped by acquisitions and strength in its Europe, Middle East and Africa market.