Spirax 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
Read moreSpirax-Sarco makes splash with special dividend and underlying strength
5th Mar 2015 09:45
Investors and analysts overlooked stiff currency headwinds buffeting steam systems specialist Spirax-Sarco Engineering last year and instead focused on the strong underlying progress and a whopping 120p special dividend. Statutory results showed revenues down 2% to £678.3m and adjusted profit before
Read moreSpirax-Sarco reports improved outlook for 2014 results
7th Nov 2014 12:35
Steam control valves and pump manufacturer, Spirax-Sarco Engineering, announced an improved outlook for full-year results due to an easing of currency headwinds. For the four-month period ended 31st October, the firm reported a 5% growth in organic sales across all company segments, mirroring first
Read moreFriday broker round-up UPDATE
7th Nov 2014 09:44
AstraZeneca: Deutsche Bank increases target price from 4100p to 4350p and reiterates its hold recommendation. AVEVA: Societe Generale reduces target price from 2250p to 2000p, while keeping its buy recommendation. Big Yellow Group: Citi raises target price from 470p to 540p and maintains its neutra
Read moreUBS stays positive on UK engineers, recent sell-off overdone
28th Oct 2014 10:03
The recent sell-off in the UK engineering sector has been overdone, according to UBS, which predicts that trading should improve in the near term. As part of its review of the sector, UBS has upgraded Rotork from 'neutral' to 'buy' and named Bodycote, Fenner and Spirax-Sarco as other top picks. "Ou
Read moreThursday broker round-up UPDATE
16th Oct 2014 08:57
Afren: Investec cuts target price from 195p to 120p and reiterates its hold recommendation. Amerisur Resources: Investec lowers target price from 75p to 65p and maintains a buy recommendation. Antofagasta: UBS upgrades from sell to neutral with a target price of 710p. ARM Holdings: Credit Suisse r
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