Strong organic growth and two significant acquisitions
Commenting on the results, Nicholas Anderson, Group Chief Executive, said:
“I am very pleased with the results delivered in 2017, which again demonstrate the robustness of our strategy and strong direct sales business model. We achieved good organic growth and excluding currency and acquisition effects, maintained the organic margin. We are pleased to report that the two acquisitions that we made in the year have been successfully brought into the Spirax Sarco Group and are progressing to plan. We increased investment in 2017 and, during 2018, we will again prioritise accelerating revenue and capital investments for growth over further margin expansion, to ensure that we continue delivering organic sales growth that outperforms our markets. Assuming no significant deterioration in trading conditions, the Board expects to make further progress in 2018.”
To view the 2017 Half Year Results or listen to a results audiocast, visit the Spirax-Sarco Engineering plc Results and Presentations page.