Spirax Sarco Operating Profit Up 25% in 2008
Monday, March 9, 2009
The Spirax Sarco group achieved strong results for 2008 capitalizing on the steady investments made over past years. 2008 sales were a record £502.3 million, up 20% from £417.3 million in 2007 and pre-tax profits were £90.1 million, a 24% increase from last year's £72.8 million.
Sales in North America increased in sterling by 19% to £95.9 million from £80.8 million in 2007. Sales benefited from an average 8% strengthening of the dollar against sterling, with constant currency sales up 10% from 2007, including a small contribution from Flexicon. The Spirax Sarco steam business grew well with increased sales of heat exchange packages and traditional products. The Watson-Marlow business saw strong overall growth for the year boosted by good sales increases into water/waste water markets and from Bredel pumps. More…
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