15 January 2010
Spectris plc, the productivity-enhancing instrumentation and controls company, today issues an update on trading for the year ending 31 December 2009. The company will announce its preliminary results on 23 February 2010.
Trading during the last two months of the year saw an improvement in demand over 2008. We now expect sales for the full year, on a reported basis, to match the prior year, including a contribution from acquisitions of 6% and beneficial effects from currency of 10%; on a constant currency organic basis, therefore, sales will have decreased by 16%. Adjusted operating profit is expected to be in line with market expectations1. Operating cash conversion was very good and our financial position remains strong, leaving net debt of approximately £125 million at the year end.
Looking forward, we continue to plan for a modest recovery in our markets during 2010. We believe that our strategy of continuing to invest in new products and applications, together with further benefits from the restructuring actions we have taken and the contribution from acquisitions, positions us well to take advantage as our markets return to growth.
1. Source: Reuters consensus £78.7 million
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