Trading Update

RNS Number : 3261C

Spectris PLC

16 January 2015

 

                                                                           

 

Spectris: 2014 Year End Trading Update

16 January 2015 - Spectris plc. (SXS: LSE), the productivity-enhancing instrumentation and controls company, today issues an update on trading for the twelve months ended 31 December 2014.

TRADING UPDATE

Sales for the fourth quarter increased by 5% compared to the same period last year on both a reported and constant currency organic ("like-for-like") basis.

For the full year, like-for-like sales grew by 2% compared to 2013. After adjusting for acquisitions, which contributed 1%, and foreign currency exchange movements, which had a negative effect of 5%, reported sales for 2014 decreased by 2% compared to the previous year.

Regionally, like-for-like sales in the fourth quarter grew by 8% in North America, by 6% in Asia Pacific and were flat in Europe. As a result, like-for-like sales in the full year grew by 6% in North America, by 1% in Asia Pacific and decreased by 1% in Europe.

Sales in all four business segments grew in the fourth quarter, with particular strength in Industrial Controls. Sales to the automotive, electronics, energy and utilities, pharmaceutical and academic research markets showed good growth, which offset ongoing softness in the metals, minerals and mining and pulp and paper sectors.

Full year adjusted operating profit is expected to be approximately £198 million.

Operating cash-flow conversion continues to be strong and Spectris maintains a healthy financial position. During the fourth quarter the Group made three acquisitions, resulting in net debt of approximately £126 million at 31 December 2014.

SUMMARY AND OUTLOOK

Commenting on the results, John O'Higgins, Chief Executive, said: "Trading in the fourth quarter was good, and we are pleased that Materials Analysis returned to growth in this period. The macro-economic environment remains challenging, but we will continue to progress our strategic initiatives and believe that the Group is well positioned for 2015 and beyond."

A conference call for analysts and investors will be held at 08.00 GMT today to discuss this statement. To access the call, please dial [phone], Toll Free 0808 237 0030 - Pin code: 59319535#. Or for replay, please dial [phone], Toll Free 0808 237 0026 - Pin code: 653358#.

The Company's full year results will be released on 27 February 2015.

- ENDS -

Contacts:

Spectris plc

John O'Higgins, Chief Executive                                      [phone]

Clive Watson, Group Finance Director                              [phone]

Matt Jones, Head of Corporate Affairs                              [phone]

FTI Consulting

Richard Mountain                                                           [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, England, the Company employs over 8,000 people, with offices in more than 30 countries. For more information visit www.spectris.com.

 

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