Strong organic growth and two significant acquisitions
Commenting on the results, Nicholas Anderson, Group Chief Executive, said:
“We are very pleased to report organic sales growth of 5% in the first half, ahead of global industrial production growth, and organic profit growth of 8%. We have seen good organic sales growth in both the Steam Specialties business and Watson-Marlow, reflecting the benefits of the successful implementation of our strategy. In addition, this year we have completed two significant acquisitions; Gestra and Chromalox. Currency effects have been favourable and combined with the growth from the acquisitions that were completed in 2016 and in the first half of this year, we have seen total sales and profit growth of 25% and 31% respectively in the reporting period.”
To view the 2017 Half Year Results or listen to a results audiocast, visit the Spirax-Sarco Engineering plc Results and Presentations page.