LONDON (dpa-AFX) - Spirax-Sarco Engineering (SPX.L) on Wednesday said its profit before taxation during the first half increased 41% to 150 million pounds from 106.3 million pounds in the same period a year ago.
Profit for the period was 108.8 million pounds or 147.3p, up from 76.7 million pounds or 103.9p in the year-earlier period.
Adjusted profit before taxation for the first six months was 159.3 million pounds, higher than 114.5 million pounds last year.
Adjusted basic earnings per share grew 41% to 157.6p from 111.6 p in the same period a year ago.
Revenue for the period increased 17% to 643.7 million pounds from 569.7 million pounds last year, helped by organic sales growth in all three businesses including Steam Specialties, Electric Thermal Solutions, and Watson-Marlow.
The Board has declared an interim dividend of 38.5 pence an increase of 15% from last year, to be paid on 12, November to shareholders on the register at the close of business on 14, October 2021.
'Our expectation for Watson-Marlow's full year organic growth in sales to the Pharmaceutical & Biotechnology sector remains unchanged at over 55% due to continuing strong COVID-19 related demand. We continue to anticipate the Group's other revenue streams will deliver organic sales growth in 2021 above the current forecast for global IP growth and therefore our expectations for full-year revenues remain unchanged,' the company said.
Copyright RTT News/dpa-AFX
© 2021 AFX News
