Spirax-Sarco 1H Sales Up 8% At Constant Currency

6th Jul 2010 07:19

LONDON (Dow Jones)--Spirax-Sarco Engineering PLC (SPX.LN), an engineering company, said Tuesday that trading conditions continue to be positive and sales for the first half-year were ahead 8% at constant currency, including a 2% contribution from acquisitions, and its order book increased. MAIN FACTS: -Growth continues to be led by Watson-Marlow Pumps and in the steam business by the Americas and Asia Pacific, with EMEA mixed but overall flat. -Exchange movements have been favorable and added 2% to sales on translation in the first half-year versus average exchange rates in the comparable period last year. -Adjusted operating profit margin shows a strong improvement over the 15.0% in the first half of 2009 and is expected to be above 19% for the first half of 2010. -Net cash balances at June 30 GBP18 million. -Shares closed Monday at 1358 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 06, 2010 02:19 ET (06:19 GMT)