Spirax-Sarco Says 1st Half Sales Up 8%
Monday, July 12, 2010
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…