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Spirax-Sarco Says 1st Half Sales Up 8%

Monday, July 12, 2010  
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RTT News - Tuesday, Spirax-Sarco Engineering Plc, a manufacturer of boiler and pipeline control valves for steam handling, said sales for the first-half ended June 30 increased 8% at constant currency, including a 2% contribution from acquisitions, and added that trading conditions continue to be positive since its Annual General Meeting. Spirax-Sarco shares rose more than 7% in morning trade.

On an adjusted basis, operating profit margin for the six-month period is estimated to be above 19%, as compared with 15% last year. Spirax-Sarco said it has benefited from operational gearing from the growth in sales, previous year's cost reduction measures, small exchange gains and a favorable product mix. More…

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