Interim Management Statement

RNS Number : 0442P

Spectris PLC

19 October 2012

 



                  

Spectris plc: Interim Management Statement

Friday 19 October 2012 - Spectris plc ("Spectris" or the "Company") (LSE: SXS), the productivity-enhancing instrumentation and controls company, today announces its Interim Management Statement covering 1 July until 18 October 2012.

TRADING UPDATE

On a reported basis, sales increased by 12% during the last quarter. This included a 13% contribution from acquisitions and a negative currency effect of 3%. Therefore, on a constant currency organic (like-for-like) basis, sales for the three months ended 30 September 2012 (the "period") were 2% up on the same period last year.

The Company saw like-for-like growth across all four segments during the period albeit at a slower pace than in the first half of this year. Regionally, sales in Asia Pacific grew by 6% on a like-for-like basis, with continued strength in China delivering 15% like-for-like growth over the same period last year. North America grew 1% and Europe declined 2% in the quarter compared with the third quarter of last year.

FINANCIAL POSITION

There were no significant events or transactions during this period which resulted in a material impact on the financial position of the group.

Net debt at 30 September 2012 was £290 million. The Company continues to maintain a healthy financial position, with operating cash conversion remaining strong.

OUTLOOK

The Board believes that Spectris remains well positioned to deliver on its expectations for the year as it realises both the benefits of its recent acquisitions, especially Omega, and the increase in the proportion of resilient revenues generated in the business.

The Company continues to focus on its strategic initiatives and manages a well balanced portfolio of products and technologies across a broad spectrum of markets and geographical presence. Spectris will continue to invest in its R&D pipeline driving productivity and innovation, as well as operational efficiencies across all segments of the business.

A conference call for analysts and investors will be held at 08.00 (UK time) today to discuss this statement.

Participant Access Details

Toll Number                                        [phone]     

Toll-Free Number                                0800 368 1950     

Participant PIN Code                           638392#

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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, England, the Company employs approximately 7,700 people, with offices in more than 30 countries.

For more information, visit www.spectris.com

Copies of this announcement are available from the Company's registered office at Heritage House, Church Road, Egham, Surrey TW20 9QD and on the Company's website at www.spectris.com

Contacts:

Spectris plc

John O'Higgins, Chief Executive                    [phone]

Clive Watson, Group Finance Director          [phone]

FTI Consulting

Richard Mountain                                            [phone]

 

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