Last checked at 13 Jan 2021 07:00
Spectris plc
Post-close trading update
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
13 January 2021 - Spectris plc (SXS: LSE), the expert in providing insight through precision measurement, today issues an update on trading for the twelve months ended 31 December 2020.
Trading update
Like-for-like ('LFL') sales in the fourth quarter decreased 7%, reflecting a stronger trading performance ahead of management's expectations, notably in December.
As a result, sales for the full year 2020 are expected to be £1,336 million, subject to audit, reflecting an11% decline in LFL sales. With an 8% impact from disposals, primarily related to BTG, and a limited impact from foreign currency exchange movements, this leads to an expected 18% decrease in reported sales compared to the prior year.
Like-for-like sales by business
FY 2020 | |
Malvern Panalytical | (13%) |
HBK | (9%) |
Omega | (13%) |
Industrial Solutions | (9%) |
Total | (11%) |
Reflecting the stronger than expected sales performance and continued overhead cost control, full year 2020 adjusted operating profit, subject to audit, is now expected to be around the top end of the consensus range of £150-171 million.
The Group will announce its full year results on 25 February 2021.
For and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Contacts:
Spectris plcSiobhán Andrews
Head of Corporate Affairs+44 1784 485325
FTI ConsultingRichard Mountain/Susanne Yule
+44 203 727 1340
About Spectris
Spectris' global group of businesses are focused on delivering value beyond measure for all our stakeholders. We target global, attractive and sustainable markets, where growth and high returns are supported by long-term drivers. Precision is at the heart of what we do. We provide customers with expert insight through our advanced instruments and test equipment, augmented by the power of our software and services. This equips customers with the ability to reduce time to market, improve processes, quality and yield. In this way, Spectris know-how creates value for our wider society, as our customers design, develop, test and manufacture their products to make the world a cleaner, healthier and more productive place. Headquartered in Egham, Surrey, United Kingdom, the Company employs approximately 8,500 people located in more than 30 countries. For more information, visit www.spectris.com.