LONDON (dpa-AFX) - Spectris Plc (SEPJF.PK, SXS.L), an instrumentation company, on Friday reported a rise in pre-tax profit, mainly due to profit on the disposal of businesses. However, it registered a decline in revenue, reflecting weakness across multiple end markets.
For the 12-month period to December 31, 2024, Spectris posted a pre-tax income of 302.7 million pounds, higher than 185.6 million pounds last year. Excluding items, profit before tax slipped to 191.5 million pounds from 263.6 million pounds in the previous year.
Net profit stood at 233.6 million pounds or 231.1 pence per share as against 145.4 million pounds or 139.4 pence per share a year ago. Profit on the disposal of businesses was 210.2 million pounds, compared with a loss of 12.6 million pounds in 2023.
Operating profit was 97.6 million pounds, lower than 188.6 million pounds in the previous year.
Revenue moved down to 1.298 billion pounds from last year's 1.449 billion pounds, down 7 percent lower on an LFL basis and down 10 percent on a reported basis, reflecting a 1pp net impact from disposals and acquisitions and 2pp from adverse foreign exchange.
LFL sales were lower in all end markets, and on a regional basis, were 6 percent lower in each of North America and Europe, and down 9 percent in Asia, predominantly driven by China against a strong comparator.
The Board will pay a final dividend of 56.6 pence per share, taking the dividend for the full year to 83.2 pence per share, higher than last year's 79.2 pence per share. The final dividend will be paid on June 27 to shareholders on the register as of May 16.
Looking ahead for the full-year 2025, Spectris, said: 'While the pace of end market recovery remains unclear, the decisive actions we have taken on cost and our focused portfolio, mean we entered 2025 with good momentum, underpinning progress towards our medium-term financial targets. In 2025, building on the actions we took in 2024, we expect the Group to trade in line with market expectations, returning to strong levels of growth in adjusted operating profit.'
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