Spectris Share Discussion Threads

[bluebelle] 13/1/2012 14:05

Maybe time to change the title of this thread ?

[broadwood] 13/1/2012 12:23

Seems I posted on a redundant thread. But the news on margins is excellent.

Brokers TP's seem to be in the 1700 range.

[cambium] 13/1/2012 11:16

Subject:



DJ INTERVIEW: Spectris Sees GBP100 Million Sales Boost From Acquisitions




By Peter Evans

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--Precision instrument maker Spectris PLC (SXS.LN) will add a further GBP100 million in revenue to its balance sheet in 2012 as recent acquisitions become fully integrated, the firm's finance director said Friday.

Clive Watson told Dow Jones Newswires that the bulk of the increased sales will come from Omega Engineering, which Spectris bought for $475 million in August, while other smaller acquisitions will also begin to make their mark as the year unfolds.

In 2010, Spectris reported sales of GBP901.9 million. Earlier Friday, the company said that figure would increase by 23% in 2011, reflecting a strong performance in the Asia-Pacific region.

"Most of the acquisitions [made in 2011] came in the last few months of the year, so we've only seen one quarter of benefit on the profit and loss account," Watson said.

Stamford, Connecticut-based Omega's performance since being bought has been "ahead of expectations", according to a statement made by Spectris earlier Friday. Spectris also acquired industrial instrument firms Sixnet and IRM Group in the second half of 2011.

"Our acquisitions make us more resilient to macro-economic concerns and give us access to growth markets," Chief Executive John O'Higgins said in an interview, adding that Spectris would look to make smaller additions to the company in the new year.

"We will continue to look at opportunities, although it won't be anything like the size of Omega," O'Higgins said. "There's no price limit [on what we might buy], but we do want to see net debt come down."



-By Peter Evans, Dow Jones Newswires.

[cambium] 13/1/2012 11:14

DJ Spectris Sees 23% Sales Increase On Asia-Pacific Growth




LONDON (Dow Jones)--Precision instrument maker Spectris PLC (SXS.LN) said Friday it expects to report a 23% increase in full-year sales, reflecting a strong performance in the Asia- Pacific region and recent acquisitions.

In 2010, the company posted sales of GBP901.9 million, with an adjusted operating profit of GBP142.1 million. The company said 2011 adjusted profit would be around GBP200 million, while its adjusted operating margin would be 18%, up from 15.8%.

Spectris said it expected comparable sales in Asia- Pacific to grow by 17%, with double digit growth also anticipated in North America and Europe.

It added acquisitions made in the twelve months all performed well especially Omega Engineering, where results were above expectations. Spectris bought Omega for $475 million in August.

[bluebelle] 13/1/2012 09:47

No problem : quality stock : a core hold for me.

[cambium] 13/1/2012 08:58

Cheers blue

[bluebelle] 13/1/2012 08:56

SPECTRIS PLC: 2011 YEAR END TRADING UPDATE

Spectris plc, the productivity-enhancing instrumentation and controls company, today issues an update on trading for the twelve months ending 31 December 2011.

TRADING UPDATE

Trading in 2011 was strong across all business segments, regions and end markets, resulting in record sales and operating profit. Sales for the full year, on a reported basis, are expected to be approximately 23% higher than in 2010, including a contribution from acquisitions of 7% and a positive currency effect of 1%. On a constant currency organic (like-for-like) basis, sales are expected to increase by approximately 15%.

Regionally, sales in Asia Pacific are expected to grow by around 17% on a like-for-like basis, with continued strength in China. North America is expected to grow by approximately 14% and Europe by around 13%.

Adjusted operating profit is expected to be in the region of GBP200 million (2010: GBP142.1 million), giving an adjusted operating margin of approximately 18% (2010: 15.8%). Margins in each of the four segments will exceed 15%, with the largest year-on-year increase in the Test and Measurement segment.

The acquisitions made in the year performed well, in particular Omega Engineering, where results were ahead of our expectations.

Operating cash conversion was strong and our financial position remains healthy, with net debt in line with expectations.

OUTLOOK

Commenting on the results, John O'Higgins, Chief Executive, said: "We are very pleased with the results achieved in 2011, and particularly with the strong close to the year. Looking ahead, the macro-economic outlook is uncertain. Our recent acquisitions bring more resilient earnings whilst providing opportunities in growth markets and the Board is therefore confident that Spectris is strategically well positioned for the coming year."

The company's full year results will be released on 17 February 2012.

[cambium] 13/1/2012 08:55

Wow very decent numbers

[broadwood] 13/1/2012 07:30

I especially like this on margins.

Adjusted operating profit is expected to be in the region of GBP200 million (2010: GBP142.1 million), giving an adjusted operating margin of approximately 18% (2010: 15.8%). Margins in each of the four segments will exceed 15%, with the largest year-on-year increase in the Test and Measurement segment

[broadwood] 13/1/2012 07:27

Expectations were high but it looks as though they've met them.

[honiton] 12/1/2012 16:16

Statment tomorrow. Looking good (hopefully)

[broadwood] 15/11/2011 07:12

Goldman Sachs Spectris PLC 15/11/11 06:57 Reiterates Conviction Buy Conviction Buy 0 1,900.00 1,950.00 50

[broadwood] 11/11/2011 16:21

Superb results today - particularly in current circumstances.

Price responding strongly. Small pullback possible Monday but this is one of the rare breeds that can survive a recession with confidence.

[sharw] 09/11/2011 13:11

From report on brokers for yesterday:

UBS upgrades Spectris from neutral to buy, target price raised from 1400p to 1500p.

[enami] 19/10/2011 08:40

I haven't looked at this for a long time.

XD today and 30% off the ATH after an ABC correction.

Tracking the FTSE350 Electronic & Electrical Equipment Index

[dasv] 17/8/2011 11:18

11:15:37 17/08/11
DJ MARKET TALK: Barclays Capital Ups Spectris To Overweight


1015 GMT [Dow Jones] Barclays Capital upgrades Spectris (SXS.LN) to
overweight from equalweight and target to 1800p from 1440p, as it turns
positive on the European capital goods sector, from a neutral stance
previously. "While the macroeconomic outlook remains uncertain we believe that
within the sector Spectris offers an attractive mix of quality, relatively
conservative consensus estimates and a low price," says the brokerage. Adds
that the acquisition of Omega Engineering is around 9% enhancing to BarCap's
FY'12 EPS estimates. Shares down 0.1% at 1396p. ([e-mail])

Contact us in London. [phone]
[e-mail]

[bluebelle] 19/7/2011 10:42

12:46 pm by Giles Gwinnett The firm released a trading update on Friday prompting JP Morgan Cazenove to increase by 5 percent its EPS forecast for 2011 from 103.9 pence to 109.5 pence - while maintaining its "overweight" rating for the stock
Precision instruments and controls firm Spectris (LON:SXS) has continued to trade strongly to the end of the first half this year, says JP Morgan Cazenove.

The firm released a trading update on Friday prompting JP Morgan Cazenove to increase by 5 percent its EPS forecast for 2011 from 103.9 pence to 109.5 pence - while maintaining its "overweight" rating for the stock.

In an interim statement in May, Spectris had said it was performing strongly, but, said the broker, this had continued to 30 June.

For the first half, group sales were up 25 percent - year-on year - to £505 million. Meanwhile, recent acquisitions contributed around 5 percent to the y/y growth, while currency had a negative impact of minus 1 percent.

Analyst Glen Liddy went on: "The strong demand has been broadly
based as it was in the first tertile. Healthy demand trends are present in all regions and end markets with all segments and regions expected to post double-digit growth.

"We expect some of the strongest demand to be seen in the automotive, aerospace and mining & minerals end markets."

JP Morgan Cazenove said Spectris had yet to see evidence of a weakening macro environment.

"The trading update highlights that current trading conditions have remained strong for the group. The recent growth has put volumes for the group back in line with pre-crisis levels. We expect growth to moderate towards trend in the second half as the comparables become tougher."

Spectris will release its first half results on 23 August.

[bluebelle] 14/7/2011 16:58

Maybe time to update the header ? !!!


Spectris plc ("Spectris", "the company" or "the group"), the productivity-enhancing instrumentation and controls company, today issues an update on trading for the six months ended 30 June 2011. The company's half year results will be released on 23 August 2011.



Our May Interim Management Statement reported strong trading conditions for the first four months of 2011, and these continued for the remainder of the half year, with healthy demand in all regions and end markets. As a result, we expect sales for the first six months of 2011, on a constant currency organic ("like-for-like") basis, to be 21% higher than the comparable period last year. On a reported basis, sales are expected to increase by approximately 25%, including a contribution from acquisitions (+5%) and the effects of currency (-1%).



All four segments and major regions will show double-digit like-for-like sales growth. Regionally, Asia Pacific is expected to grow by around 21%, North America by approximately 26% and Europe by around 18%.



Adjusted operating profit is expected to be in the region of £80 million (2010:£49.9 million), giving an adjusted operating margin of approximately 16%. This compares with 12.3% for the same period last year.



Operating cash conversion was in line with our expectations and our financial position remains strong, with net debt of approximately £74 million at the end of June.



Commenting on the results, John O'Higgins, Chief Executive, said: "We are very pleased with the excellent start we have made to the year, delivering sales growth in all four of our business segments. Looking ahead, growth rates in the second half of 2011 are likely to revert to more normal levels following the strong recovery in the second half of 2010. We remain confident that Spectris will make good progress for the full year."



A conference call for analysts and investors will be held at 08.00 (UK time) on Friday 15 July to discuss this statement. For dial-in details please contact Financial Dynamics on [phone].

ENDS

[pillion] 01/7/2011 09:32

Mentioned here

[cerrito] 17/6/2011 19:50

have to say had never heard of them till I read this in the FT the other day..congrats to those who have bought in 6/9 months ago


Spectris, the instrumentation maker, rose 2.1 per cent to £15.81 after Singer Capital Markets started coverage with "buy" advice and a £18.80 target. It said the shares traded at a material discount to other electronic equipment makers even on relatively undemanding earnings forecasts.

[sharw] 15/6/2011 11:23

This is the full article mentioned by broadwood on 25/5:



Meanwhile it reached an all-time high of 1585 on 31/5 and is not far off that this morning.

Edit at 12 24 - just smashed through that - 1590 at the moment

[bluebelle] 10/6/2011 11:16

broadwood
I've said it many times on may threads, but some of the best companies have the quietest bbs : I'm happy to let the company's results speak for themselves!

[broadwood] 10/6/2011 09:28

Another deserted thread - but the company is doing very nicely.

Jeffries upgrades to BUY today with a TP raised to 1805p from 1430.