Trading Update

RNS Number : 1957L

Spectris PLC

24 April 2015

 

                   

Spectris: Trading Update

24 April 2015 - Spectris plc (SXS: LSE), the productivity-enhancing instrumentation and controls company, issues a trading update covering the period from 1 January to 31 March 2015, ahead of its Annual General Meeting to be held later today.

TRADING UPDATE

The Group delivered like-for-like* ('LFL') sales growth of 1% in the period. Acquisitions contributed a further 5% growth whilst foreign currency exchange movements had a broadly neutral impact. As a result, reported sales grew by 6% in the period. Regionally, LFL sales grew by 10% in Europe, whilst there were declines of 3% in North America and 2% in Asia Pacific.

Sales to the metals, minerals and mining, pharmaceutical, aerospace, energy and utilities and electronics, semiconductor and telecoms markets grew in the period. However, sales to the pulp and paper industry were lower, particularly in Asia Pacific, and sales to the academic research sector also declined.

ACQUISITIONS

There were two acquisitions in the period; the previously-disclosed January 2015 acquisition of ReliaSoft within our Test and Measurement segment, and the March 2015 acquisition of a distributor in Taiwan for our particle measuring business in the Materials Analysis segment. Over the past 12 months the Group has invested around £125 million on eight acquisitions, and our acquisition pipeline remains encouraging.

SUMMARY AND OUTLOOK

Commenting on the trading position, John O'Higgins, Chief Executive, said: "We are encouraged by the progress made in Materials Analysis' main end-markets during the period and by the contribution from the acquisitions we have made over the past 12 months. However, this has been partially offset by weaker than expected trading in North America and China and on-going weakness in the pulp and paper market.

In addition to a strong product portfolio and an encouraging acquisition pipeline, our broad end-market exposures together with our strong financial position and on-going investment in the business all underpin the Board's view that the company is well positioned for 2015 and beyond."

A conference call for analysts and investors will be held at 08.00 BST today to discuss this statement. To access the call, please dial [phone], Toll Free 0808 237 0030 - Pin code: 33185799#. Or for replay, please dial [phone], Toll Free 0808 237 0026 - Pin code: 656651#.

Spectris will issue its half-year results for the six months ending 30 June 2015 on 30 July 2015.

Spectris will be holding a Capital Markets Day for analysts and investors on 27 April 2015. No further update on trading will be provided at this event.

* Constant currency organic

- 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, United Kingdom, the Company employs approximately 8,000 people, with offices in more than 30 countries.

 

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