26 July 2013 - Spectris plc, (SXS: LSE) the productivity-enhancing instrumentation and controls company, announces half year results for the six months ended 30 June 2013.

Highlights

• Q2 sales grew 7% on a reported basis, 3% like-for-like
• Pipeline activity remains strong, although trading continues to be characterised by longer order cycles
• Continued investment in geographic expansion and the accelerated R&D programmes
• Cost saving actions in place to deliver the previously announced £10 million of net savings for the year
• Interim dividend up 9% to 14.75 pence per share

Adjusted performance measures excluding divested businesses: *	H1 2013	H1 2012**	Change	Growth at CER***	Like-for-like change****
Sales £m	566.2	570.5	-1%	-2%	-3%
Adjusted operating profit* £m	80.1	92.8	-14%	-16%	-16%
Adjusted profit before tax* £m	75.0	86.2	-13%
Adjusted earnings per share*	48.4p	54.9p	-12%
Adjusted return on sales*	14.1%	16.3%	-2.2pp
Dividend	14.75p	13.50p	+9%
Statutory
Sales £m	570.4	596.7	-4%
Operating profit £m	65.9	79.4	-17%
Profit before tax £m	154.8	74.8	+107%
Basic earnings per share	90.9p	49.0p	+86%

^{* The ‘adjusted performance measures excluding divested businesses’ represent the statutory results excluding certain non-operational items and the trading results and impact of the disposal of the Fusion UV business on 31 January 2013. For a full reconciliation please see note 2
** The 2012 comparatives have been restated following the adoption of IAS 19 (Revised) ‘Employee Benefits’ (see note 1)
*** At constant exchange rates (CER)
**** At constant exchange rates and excluding acquisitions}

Commenting on the results, John O’Higgins, Chief Executive, said:

“Trading improved during the second quarter across all segments. We remain encouraged both by the strong overall level of our opportunity pipeline and the expected delivery of our planned £10 million net cost savings for the full year. Our businesses are strategically well positioned and, assuming the improved trading conditions seen in the second quarter continue, the Board of Spectris is confident it will deliver full year performance in line with its expectations.”

Contacts:

Spectris plc
John O’Higgins, Chief Executive
Clive Watson, Group Finance Director
Cléa Rosenfeld, Head of Corporate Affairs
FTI Consulting
Richard Mountain / Susanne Yule

 

The meeting with analysts will be available as a live webcast on the company’s website at www.spectris.com, commencing at 9.00 am BST, and a recording will be posted on the website shortly after the meeting.

Copies of this notice are available to the public from the registered office at Heritage House, Church Road, Egham, Surrey TW20 9QD, and on the company’s website at www.spectris.com

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 7,500 people located in more than 30 countries.

For more information, visit www.spectris.com