Trading Update

RNS Number : 8841X

Spectris PLC

17 January 2014

 



Spectris: 2013 Year End Trading Update

17 January 2014 - Spectris plc. (SXS: LSE), the productivity-enhancing instrumentation and controls company, today issues an update on trading for the twelve months ending 31 December 2013.

TRADING UPDATE

Reported and like-for-like sales for the fourth quarter were up 3% compared to the same period last year. Reported sales for 2013 were up 2% on the previous year with equal contributions, of just under 1% each, coming from acquisitions and foreign exchange movements. Therefore, like-for-like sales for the full year were broadly flat compared to 2012.

Regionally, like-for-like sales in Asia grew by 12%, North America 2% and Europe 1% in the fourth quarter. As a result, for the full year, like-for-like sales in Europe grew by 2% and Asia Pacific by 1% whilst North America declined by 3%.

Adjusted operating profit is expected to be £214.7 million (2012: £216.9 million), giving an adjusted operating margin of 17.9% (2012: 18.4%).

Cash conversion was robust and our financial position remains strong. During the fourth quarter we re-financed £95 million equivalent of our US private placement debt with a new seven-year term loan.

SUMMARY AND OUTLOOK

Commenting on the results, John O'Higgins, Chief Executive, said: "We are pleased with the good performance shown by our businesses in the fourth quarter, in view of a strong comparative prior year period. We continue to progress our strategic initiatives and the Group is well positioned for 2014 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: 99468792#. Or for replay, please dial [phone], Toll Free 0808 237 0026 - Pin code: 645128#.

The Company's full year results will be released on 27 February 2014

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Contacts:
Spectris plc
John O'Higgins, Chief Executive	[phone]
Clive Watson, Group Finance Director	[phone]
Cléa Rosenfeld, 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 approximately 7,600 people, with offices in more than 30 countries.

 

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