LONDON (dpa-AFX) - Spirax-Sarco Engineering plc, (SPX.L), a thermal energy management and niche pumping specialist, reported Thursday that its first-half profit before taxation grew 9 percent to 124.8 million pounds from last year's 114 million pounds.
Basic earnings per share were 123.8 pence, up 10 percent from 112.5 pence last year.
Adjusted profit before taxation was 137.9 million pounds, compared to 153.5 million pounds a year ago. Adjusted basic earnings per share were 137.2 pence, compared to last year's 155.2 pence.
Revenue dropped 3 percent to 827.0 million pounds from prior year's 850.8 million pounds. Revenue grew 1 percent organically.
Further, the Board has declared an Interim dividend of 47.5 pence per share, up 3 percent from last year. The dividend will be paid on November 15 to shareholders on the register at the close of business on October 18.
Looking ahead, the company expects mid-single digit organic revenue growth for the full year 2024 with good margin progress. Adjusted operating profit margin is expected to be broadly in line with the 2023 margin, adjusted for currency headwinds, of 20.0 percent.
The company previously expected mid to high-single-digit organic growth in Group revenues.
Organic guidance is based upon 2023 currency adjusted sales of 1.62 billion euros, and an adjusted operating profit margin of 20 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
