Share Name Share Symbol Market Type Share ISIN Share Description
Spectris Plc LSE:SXS London Ordinary Share GB0003308607 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  11.00 0.43% 2,544.00 198,639 16:35:17
Bid Price Offer Price High Price Low Price Open Price
2,537.00 2,540.00 2,564.00 2,511.00 2,518.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 1,632.00 259.30 202.20 12.6 2,938
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:21 AT 92 2,544.00 GBX

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Date Time Title Posts
20/2/202008:56The only way is up.....Spectris38
22/2/201621:59SPECTRIS.................................(Formerly Fairey Group)160
12/10/201223:08Spectris Moves up on Merill Recomendations Target 37585
19/9/201220:12A multi bagger in the making-

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Spectris Daily Update: Spectris Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker SXS. The last closing price for Spectris was 2,533p.
Spectris Plc has a 4 week average price of 2,460p and a 12 week average price of 2,435p.
The 1 year high share price is 3,070p while the 1 year low share price is currently 2,058p.
There are currently 115,502,424 shares in issue and the average daily traded volume is 204,906 shares. The market capitalisation of Spectris Plc is £2,938,381,666.56.
iwilllosemyshirt: REDS, remarkable recovery story not yet well known. Trading update 5th September. REDS provides software applications for smart buildings and counts pharmaceutical giant GlaxoSmithKline and real estate player Meyer Bergman among its customers. Constant flow of new contracts with large multinationals. They got recently a 12 million contract with UBS which represented 50% of REDS' market capital! UBS have 700 more branches needing possibly the same service. New CEO Mark Braund very positive and invested his own money along with the financial director. Mark is a specialist in turning around struggling companies. He has already done it with REDS in less than a year. hxxp://
jeffcranbounre: Spectris is featured in today's ADVFN podcast. You can listen to the podcast by clicking here> In today's podcast: - Technical Analyst and PR at Zak Mir chatting and charting Quindell, Gulf Keystone Petroleum, Tesco, Royal Mail, Anite and Blur. Zak on Twitter is @ZaksTradingCafe - The micro and macro news - Plus the broker forecasts   Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below. Ten Bagger Tuesday (All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below: Suggest a stock (Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). You can subscribe to this podcast in iTunes by clicking HERE To follow me on Twitter click HERE As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions: Bronze - £50 (normally £73.82/year) Silver - £145 (normally £173.71/year) Level 2 - £350 (normally £472.94/year) Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just CLICK HERE for more information. Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing. Justin    
roger-lawson: Regarding the share price fall after the announcement on the 19th, I listened into the analysts conference call that morning and then attended the AGM later in the day. The information gleaned from those two events helps to explain why there was a bit of a rebound in the price subsequently. A full report of the conference call and the AGM is present on the ShareSoc Members Network here: (but you need to sign up as a free member of ShareSoc to access the document, which you can do from here: I don't know why more people don't attend AGMs. I learned quite a lot from doing so in this case. We publish a lot of reports on AGMs as an information resource for members. Roger Lawson, ShareSoc
broadwood: Following a sharp fall in the share price of instrumentation and controls company Spectris on Friday after its first-quarter trading update, Investec has upgraded the stock from 'hold' to 'buy'. The stock slumped by over 15% from 2,225p on Thursday's close (before the statement) to just 1,880p by Monday's close after the firm reported a decline in sales on Friday due to a deferral of orders and shipment delays. Analyst Michael Blogg said: "Spectris rarely scares investors and, arguably, the reaction to Friday's update has been excessive. The 9.0% revenue decline in Q1 arose from a combination of challenging comparisons with strong trading a year earlier, delivery phasing that was either pre-arranged or caused by slippage into Q2, and a disappointing tendency among customers to conserve cash." Nevertheless, he said: "Spectris does not quantify or guide on quarterly revenues, only the H1:H2 bias, and we sense that it was less surprised at a year-on-year decline in Q1 than we were and more confident of a bounce in Q2, with its knowledge of the contributory elements." Investec has cut its annual earnings forecasts by a precautionary 5.0% on 2.2% lower revenues. The target price has come down to 2,330p, from 2,575p previously due to reduced earnings estimates and the de-rating of peers. The stock rebounded strongly on Tuesday, trading 6.86% higher at 2,009p before the close of trade. BC
broadwood: pearl - well done. Share price running up ahead of IMS.
broadwood: The higher the share price, the lower the yield becomes. But whose complaining. Certainly its been comprehensively re-rated.
sharw: Yet another new intra-day high and closing high. I am starting to wonder if there will be an announcement starting with the usual "the company has noted the move in its share price...".
campbed: Certainly surprises me to see SXS at 500p so far in advance of results and outperforming Halma, Kidde, Renishaw, and other electronic control 250 stocks. Recent broker forecasts look to slightly reduce consensus for 2003 EBTAEx to £48.5m though adj EPS is up slightly to 30.5p on company's indication of lower tax charge. That's still a trailing PER of 16.4 at 500p with only around 10% growth for 2004. Also they've increased goodwill on 2003 on PANanalytical acquistion completed in Sept 02 (see post 51 above) but doubt that will get any mention in the prelims and we will have to await R&A to read about that. SXS share price does seem to have a history of overshooting on upside as with many Caz brokered stocks and so, particularly in this market that is currently wanting to hear good news on anything techie, I'm continuing to sit on the sidelines for the moment awaiting the results.
campbed: Hi Henry - what’s prompted you to re-open your short? I’ve kept my SXS short. I see you have gone long on Ricardo (RCDO) where I’m long as well as I think recent fall was overdone and AGM trading statement on 7 Nov will reassure. As for SXS, its share price has fallen a little for the last 4 days. Their chart looks weak to me. The latest broker's forecast (Warburg's) is for adj PBT of under £50m in 2003 and for under 10% earnings growth in 2004. SXS offers poor overall value compared with other FTSE 250 electronic controls companies such as Halma (HLMA), Kidde (KID) or Renishaw (RSW). Its most recent two large acquisitions of Spectris AG and PANanalytical have costs in EUR but many sales are made in USD so operating margins squeezed. My feel is for a 12% drop in share price to 410/415p.
campbed: I seem to be the only one trying to make sense of SXS's results. I'll give my views this time but unless there is some worthwhile feedback from others then I will not bother again in future. Aixam's spam above also turns me off posting. I shorted Tuesday first thing upon seeing the interims. I have a target of 400p on unchanged market sentiment with a guaranteed stop loss at 510p to offer protection against a bid. The number that leapt out at me from the interims was the free cash flow (FCF). At only £2.2.m this was even less than the £2.9m in H1 last year despite having PANanalytical this H1 (bought for £96.1m last September). Spending against other provision/liabilities was £2.1m this H1 against £6.8m last H1 and adding this spending back gives comparables of £4.3m against £9.7m last H1. SXS look again to have been playing the acquisition accounting game. Goodwill in the balance sheet has increased by £8.8m when there were no acquistions in H1 (from £213.6m at 31 Dec to £222.4m) despite a goodwill amortisation charge of £6.2m in H1. Hence additional goodwill of some £15m has been created presumably on the PANanalytical acquisition made last September for £96.1m. In the Dec 2002 accounts SXS had assigned only £14.1m to fair value of the tangible net assets acquired (including £3.1m of cash) and so created £82m goodwill. If the £15m additional goodwill created does relate just to PANanalytical then SXS will have paid £93m net of cash acquired for no tangible net assets. The concern of course is that the new debit to goodwill would otherwise have been accounted for as losses. With about 123.7m shares, SXS's mkt cap at 490p is £606m. Net debt increased £14m to £191.5m at June. Hence enterprise value (EV) of about £800m. To the FCF of £2.2m add back £2.1m of "exceptional spending" and net interest paid of £5.2m to get A(djusted) FCF of £9.5m. Hence SXS cash generation earned 9.5/800 = 1.2% in H1 or about 2.5% annualised after tax. I just can't see SXS generating AFCF of £80m per year in the near future to justify an EV of £800m. A fairer price in today's market IMO is around 330p to give an EV of about £600m. This gives an EBITA/EV of about 10% based on forecasted EBTA (PBT) of £50m and £10m interest. SXS's share price has had a good run to almost 500p, having roughly doubled from the 230p low last October and in my view has simply overshot. However SXS is well supported by institutions and its retail following is insignificant. For long holders, other shares offer much better value IMO.
Spectris share price data is direct from the London Stock Exchange
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