Thursday broker round-up
26th May 2016 15:53
(ShareCast News) - Great Portland States: Jefferies downgrades to underperform with a 650p target. Electrocomponents: RBC upgrates to sector perform with a 270p target. Marks & Spencer: Jefferies downgrades to underperform with a target price of 300p, Exane BNP Paribas downgrades to underperform wi
Read moreSpirax-Sarco reaches bottom of trading trough
10th May 2016 07:59
(ShareCast News) - Steam and peristaltic pumping technology company Spirax-Sarco Engineering reported on a tough year so far on Tuesday, saying growth remained at around zero globally with a continued small deterioration in OECD economies matched by a small improvement in developing economies. The F
Read moreMonday broker round-up
18th Apr 2016 14:31
(ShareCast News) - Thomas Cook: Berenberg upgrades to hold with a target price of 105p and Goldman Sachs reiterates sell with a 94p target. Rightmove: Investec upgrades to buy with a target price of 4400p. Spirax: RBC downgrades to sextor perform with a target price of 3700p. Polymetal: Deutsche B
Read moreSpirax-Sarco Engineering annual profit hit by currency headwinds
3rd Mar 2016 09:51
(ShareCast News) - Spirax-Sarco Engineering posted a drop in 2015 pre-tax profit and revenue on the back of slowing industrial production growth and currency headwinds. In the year to the end of December, statutory pre-tax profit fell 4% to £139.7m on revenue of £667.2m, down 2% from 2014 due to the
Read moreSpirax reiterates full year expectations but sales remain under pressure
17th Nov 2015 08:55
(ShareCast News) - Engineering group Spirax-Sarco reiterated expectations for the full year, despite saying were under pressure because of a continued slowdown in industrial production. The FTSE 250 group said the sluggish output conditions it registered in the first half of the year continued in th
Read moreSpirax replaces finance director
27th Oct 2015 07:57
(ShareCast News) - David Meredith will step down from his role as Spirax-Sarco's finance director and executive director, the engineering company said on Tuesday. Meredith, who joined the FTSE 250 group in 1988 and was appointed to the board in 1992, will leave the role he has held for the last 24 y
Read moreSpirax-Sarco steams ahead with £6.5m acquisition
28th Sep 2015 14:17
(ShareCast News) - Spirax-Sarco Engineering has acquired the steam distribution business of its Colombian distributor, Casaval SA, for a cash consideration of £6.5m. Spirax said Colombia is an attractive market, with a broad base of steam using industries, adding that Casaval, which has represented
Read moreSpirax's interim profit hit by currency headwinds
5th Aug 2015 09:01
(ShareCast News) - Industrial engineering group Spirax-Sarco said its interim results were hit by strong currency headwinds. The FTSE 250 group said its first half pre-tax profit declined 10% year-on-year to £57.3m on the back of £8.2m in exceptional costs it booked from the start-up of a new busine
Read moreSpirax completes sale of M&M to Rotork
4th Aug 2015 09:15
(ShareCast News) - Industrial engineering group Spirax-Sarco has sold M&M International to sector peer Rotork for €9.7m (£6.8m). The FTSE 250 group acquired M&M, which manufactures piston actuated valves and solenoid valves in Bergamo, Italy, in 2000 and reported operating profit of €1.5m and sales
Read moreSpirax-Sarco buys Japanese pump manufacturing business for £2.8m
2nd Jul 2015 10:39
Spirax-Sarco Engineering has acquired the MasoSine sinusoidal pump manufacturing and distribution business from PRIMIX Corp, Japan, for £2.8m. The purchase consideration excludes any cash or debt balances and will be financed from the group's existing cash resources. The acquisition, confirmed on T
Read moreFTSE 250 movers: Spirax-Sarco dips on sluggish order growth, Zoopla reverses
11th May 2015 13:33
Life sciences, seals and controls outfit Diploma topped the fallers after disappointing investors with a cautious outlook, saying it still sees "headwinds to organic growth". Numis Securities lowered its rating on the stock to 'hold' from 'add', saying it was looking "for a better entry point into t
Read moreSpirax-Sarco acquires Asepco for £7m
9th Apr 2015 09:49
Spirax-Sarco Engineering, a steam system management and peristaltic pumping company, has acquired Asepco Corporation for £7m. Asepco is an US manufacturer of aseptic valves and magnetic mixers for the biopharmaceutical industry. The acquisition will be funded from the group's existing cash resource
Read moreFTSE 250 movers: Afren lower on defaulted interest payment, Betfair surges on upgraded guidance
5th Mar 2015 14:10
African oil company Afren plunged as it defaulted on an interest payment while it negotiates a restructuring with lenders that could dilute the interests of shareholders. Aerospace and defence manufacturer Cobham was damaged by a big fall in pre-tax profit for 2014, despite higher revenue. The compa
Read moreBroker tips: Rightmove, Spirax-Sarco, Aviva
5th Mar 2015 10:37
As competition in the property portal space heats up, and on the back of a 54% gain in the share price, the time may have come for investors in Rightmove to move on, Credit Suisse believes. Nonetheless, the Swiss broker continues to like the sector, both in terms of the cyclical and structural growt
Read moreIt's full steam ahead at Spirax Sarco, analysts say
5th Mar 2015 10:32
Currency headwinds buffeted Spirax Sarco's profitability on a pre-tax basis, but analysts at Investec and Numis continue to see clear sailing ahead. The steam systems engineering group reported flat year-on-year growth in profits, which came in at £151.1m. However, that was the result of a 12% curre
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