Spirax Sarco improves sales in second half

8th Nov 2010 17:28

Sales have grown quicker at Spirax Sarco during the second half than in the first, the steam trap and pump maker said Monday, although the easy comparisons of 2009 are now behind it.In the ten months to October, sales are up 14%, with 9% of that growth organic and 5% from acquisitions and currency moves.Since the end of June, the steam business has bumped up sales "strongly" in Asia Pacific where several large projects were shipped in Korea, while strength in South America cancelled weakness in North America. Good operational gearing, last year's cost reductions and favourable currency movements continue to aid adjusted operating profit.Looking ahead, the firm is keeping a close eye on economic growth rates which have been broadly slowing recently, and remains "alert to any significant slowdown"."Sales growth returned in the last two months of 2009 and the easier comparisons are therefore now behind us. However, we expect to make good progress in 2010 and, as we reported at the half-year, to see a more normal second-half bias of sales and profits," the company said.