Date: Embargoed until 7.00am, Thursday 15th January 2003
Contact: Hans Nilsson, Chief Executive Tel: 01784 470470
Spectris plc
Richard Mountain Tel: 020 7269 7291
Financial Dynamics
SPECTRIS PLC YEAR END UPDATE
Spectris plc, the precision instrumentation and controls company, today issues
a trading update ahead of its results for the year ending 31 December 2003. The
full year results will be announced on Tuesday, 16 March 2004.
Following the seasonal pattern experienced in previous years, demand in the
second half was consistent with that predicted at the time of the interim
results announcement in September. For the year as a whole, a healthy organic
sales growth of 6% (including the negative impact of currencies) was
supplemented by the first full year's contribution from PANalytical, acquired
in 2002.
The anticipated outcome for 2003 is that Spectris will deliver double digit
growth over 2002 both in terms of profit (before tax, exceptional items and
goodwill amortisation) and earnings per share. Profit is expected to be towards
the lower end of market estimates due to a weakening US dollar, whilst earnings
per share is expected to be at the higher end of market expectations helped by
a lower tax rate. Cash conversation is expected to have been good.
Looking forward, conditions appear favourable for continuing growth in sales,
although the associated profit growth will be significantly impacted by the
high proportion of such sales denominated in the weakening US dollar.
- ENDS -
Copies of this notice are available to the public from the registered office:
Station Road, Egham, Surrey TW20 9NP and on the company's website at
www.spectris.com
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