Spectris annual profit and sales hampered by challenging marketing conditions in China and Europe
Challenging market conditions in Europe and China weighed on Spectris' annual pre-tax profit and sales, the instrumentation and controls company said on Friday.
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The FTSE 250 group said its pre-tax profit for the year was £171.1m, a 37% decline year-on-year, while sales fell 2% to £1.17bn as sluggish performance in its European and Chinese markets offset a strong year of trading in North America.
However, the company has hiked its dividend by 9% to 46.5p, comprising a 30.5p final dividend and a 16p interim dividend.
The group said it expects its 2015 results to be boosted by acquisitions it made towards the end of last year and in early 2015 as well as by product investments.
"The investments, together with our broad end-market exposure and strong financial position, provide the board of Spectris with confidence that the company is well-positioned for 2015 and beyond," said group chief executive John O'Higgins.
Spectris shares were up 1.22% to 2,232.00p at 11:28 on Friday.