Spectris posts record operating profits, raises guidance

31st Jul 2023 07:05

(Sharecast News) - Spectris posted a big jump in first half sales for record profits, leading management to raise its full-year guidance.

The precision instrumentation and controls manufacturer posted a 23% jump in half-year sales driven by a mix of volume and market share growth. together with higher prices.

Adjusted operating profits were up by 41% to a record £102.1n and the company's book-to-bill ratio neared 1.0 as order intake normalised.

Management also upgraded its guidance, telling shareholders that full-year organic sales were now seen rising by more than the 6-7% previously anticipated.

Adjusted operating profits for the year were seen coming in at between £250-265m.

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