AGM AND INTERIM MANAGEMENT STATEMENT

RNS Number : 5297G

Spectris PLC

13 May 2011

 



Date: 13 May 2011

SPECTRIS PLC

AGM AND INTERIM MANAGEMENT STATEMENT

At the Annual General Meeting of Spectris plc ("Spectris" or "the group") being held today, the Chairman, John Hughes, will make the following Interim Management Statement covering the period from 1 January 2011 to date.

Trading in the first four months of the year has been strong, assisted by a healthy order book at the start of the year following the particularly good performance in the last months of 2010. The group has made good progress throughout all segments, geographic regions and end markets as the trends seen in the latter part of 2010 continued into 2011. On a like-for-like basis, sales for the four months ended 30 April 2011 were 21% higher than the comparable period in 2010, which was up only 6% over a weak 2009. On a reported basis, revenues increased by 25%, including a contribution from acquisitions of +5% and the effects of currency of -1%.

The increase in sales was strong in the Materials Analysis and Test and Measurement segments, which at this point in 2010 had not yet recovered from the downturn. In the In-line Instrumentation segment, which had a stronger period in the prior year, sales growth was, as expected, slower than the other segments. Industrial Controls has also continued to build on its good start to the year.

Regionally, sales in Asia Pacific grew by 20% on a like-for-like basis, with very strong growth in China, mitigated by more modest growth in Japan. European sales increased by 17% and North America was up by 26%.

There have been no significant events or transactions during the period which have had a material impact on the financial position of the group.

The group has made a strong start to 2011. We believe that our strategy of expanding our market positions and regional presence, investing in new products and applications and seeking acquisitions will continue to provide good growth opportunities during the year. However, given the strong recovery in our markets in the second half of 2010, growth rates in the remainder of the year are likely to revert towards more normal levels. The Board anticipates that Spectris will make good progress for the full year.

Spectris will issue a trading update on 15 July 2011, ahead of the publication of the Company's half year results due to be released on 23 August 2011.

A conference call for analysts and investors will be held at 08.00 (UK time) on Friday 13 May to discuss this statement. For dial-in details please contact Financial Dynamics on [phone].

ENDS

Enquiries:	John O'Higgins, Chief Executive, Spectris plc	Tel: [phone]
	Clive Watson, Group Finance Director, Spectris plc	Tel: [phone]
	Richard Mountain, Financial Dynamics	Tel: [phone]

About Spectris

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets.

Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, the company employs approximately 6,000 people, with offices in 31 countries.

For more information, visit www.spectris.com

Copies of this announcement are available from the company's registered office at

Station Road, Egham, Surrey TW20 9NP and on the company's website at www.spectris.com.

 

END

 

 

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