Spirax-sarco Engineering Share Discussion Threads

[redartbmud] 08/8/2013 07:58

Good set of results.

broadwood, you don't know what you are missing here.

red

[spob] 03/6/2013 10:42

no only by starting another thread again

[deadly] 03/6/2013 10:19

Can't you correct the spelling as author?

[broadwood] 09/5/2013 08:48

Skipped out of these for the moment. Has been a superb earner.

[broadwood] 09/5/2013 08:39

Steady as you go results. Holding onto all time highs atm.

[spob] 19/4/2013 10:39

forgot about this thread

damn spelling mistake - just noticed

[deadly] 19/4/2013 08:33

big fall on Spectris IMS today.

[redartbmud] 07/3/2013 14:21

I'll drink to that. The cream always rises to the top.

[broadwood] 07/3/2013 14:09

Fantastic reaction to those results - and the £1 per share windfall.


Engineering proposes windfall after profit increase
Thu 07 Mar 2013
Spirax-Sarco Engineering proposes windfall after profit increase LONDON (SHARECAST) - FTSE 250-listed Spirax-Sarco Engineering has recommended a windfall dividend of 100p per share, worth a total of 78m pounds, after posting record sales and profit in 2012.

The group, which supplies engineered solutions for commercial steam systems, reported a 2.0% rise in revenue to £661.7m in 2012 and adjusted operating profit of £136.2m, up from £134m in 2011.

Organic sales rose by 5.0%, operating profit was up 6.0% at constant currency and adjusted profit before tax rose 1.0% to £138.5m.

The dividend per share rose 8.0% to 53p.

Mark Vernon, Chief Executive Officer of Spirax-Sarco Engneering, commented: "I am pleased to report that the group delivered another year of record sales, profit and cash generation despite slowing global economic growth throughout the year.

"The resiliency of our business model and our good exposure to faster growing emerging markets in Asia, enabled the group to achieve 5% overall organic sales growth and higher profits, a noteworthy accomplishment given the particularly difficult economic environment in Europe.

"2013 has started in line with our expectations and we look forward to making further progress for the year," he concluded

[broadwood] 06/3/2013 08:13

Results tomorrow.

[maurillac] 06/2/2013 08:16

yes still looking good eh broadwood. wish id got back in - been waiting for a decent dip but it hasnt really happened.
m

[broadwood] 05/2/2013 16:32

Prelims were !8 Mar last year.

[broadwood] 05/2/2013 14:47

Hitting new highs. I guess we're due an IMS before too long.

[ukinvestor220] 07/11/2012 10:42

0911 GMT [Dow Jones] Spirax-Sarco Engineering (SPX.LN) issues a positive trading update says Numis. The interim management statement shows continued strong trading in its pumps business and Asian markets, though there's weaker trading in Europe and FX tailwinds. Notes 2H has started strongly, with 6% organic growth. This coupled with cost benefits should drive a greater than normal weighting to the second half of year, says Numis. "We remain fundamentally positive on Spirax as it provides excellent through-cycle returns and offers defensive growth coupled with a strong balance sheet." Recommendation is add with 2300p target. Shares are up 7.5% at 2130p. ([e-mail] Twitter: @ATryphonides)

[ukinvestor220] 07/11/2012 10:39

Great news - and on top of that:
Spirax-Sarco Engineering PLC (SPX.LN), a manufacturer of fluid control products, Wednesday said it has acquired the business and assets of the steam speciality business of Termodinamica Limitada based in Santiago, Chile, for 2.5 billion Chilean Pesos (GBP3.3 million).

[broadwood] 07/11/2012 09:07

Spirax Sarco Engineering is battling away as demand remains "resilient", despite weakening global macro-economic conditions in recent months.
Total sales in sterling were ahead 2% in the first 10 months of 2012, after including the impact of unfavourable currency movements and two small disposals last year.

More specifically, and for the four months ended October 31st, organic sales increased 6%, ahead of the rate of growth reported in the first half year.

Over the same period operating profit was 8% ahead on a constant currency basis. Against a decline of 3% for the first half of the year, this means that for the first ten months ending October 31st operating profit was 2% ahead of last year on a constant currency basis.

Notably, the Asia Pacific region and the Watson-Marlow pumps business achieved strong double-digit sales growth in the period. The Americas saw a more modest advance while sales in the Middle East and Africa (EMEA) segment experienced a slight decline.

As regards Watson-Marlow, the improvement in operating profits was due to the planned increases in R&D and market development costs in the first half year now unwinding in the second half. The results also improved in EMEA, as the cost base in Europe is being progressively lowered and the profitability of its supply operations increased.

In its trading update the steam trap and pump maker took care to stress: "Although our forward visibility remains short and we are not immune to a worsening in our markets, which can be reflected fairly quickly in our mid-cycle business, the board continues to expect the group to make progress for the full year."

Net cash balances at the end of October 2012 increased to £43m compared with £9m at June 30th 2012.

The interim dividend of £12m will be paid on November 9th.

[redartbmud] 07/11/2012 08:17

Keep 'em comin'

[broadwood] 07/11/2012 08:10

Broker upgrades a comin'

[broadwood] 07/11/2012 07:51

Confident enough statement.

Should resume the rise.

[ukinvestor220] 18/10/2012 15:27

Chart and director buys drew me to this, and reading the interim from august which indicates heavy H2 bias as highlighted above made me pile in here today.

[broadwood] 10/9/2012 10:01

Hopefully market waking up to this (on 22.8):

The second half has started well with stronger organic sales growth of 10% in July, benefiting from a relatively healthy order book. This, together with the expected cost benefits, means that we expect a greater than normal seasonal bias to the second half sales and operating profit, and given no further deterioration in market conditions or negative movements in average exchange rates, the Board expects to make progress in 2012.

[redartbmud] 10/9/2012 09:30

Remains a key investment in my portfolio, so upgrede welcome.
You never know, the scribblers may catch up one day - don't hold your breath!

[broadwood] 10/9/2012 08:27

Goldman upgrading TP. Good for a nice lift.


Goldman Sachs Weir Group PLC 10/09/12 08:17 Reiterates Conviction Buy Conviction Buy 0 2,790.00 2,830.00 40

[broadwood] 30/5/2012 07:27

Luvly jubbly.

Panmure Gordon Spirax-Sarco... 30/05/12 07:21 Upgrades Hold Buy 2 2,275.00 2,365.00