20th Nov 2015 07:10
LONDON (Alliance News) - Precision instrumentation and controls manufacturer Spectris PLC on Friday said its like-for-like sales have fallen so far in the second half, leaving it anticipating its 2015 adjusted operating profit will come in at the low end of market expectations.
The FTSE 250-listed company, which makes materials analysis and testing and measurement systems, said said like-for-like sales in the four months to the end of October were down 1.0%, primarily due to worsening trading conditions in its markets.
Total sales for the period were also down 1.0%, as a 2.0% contribution from acquisitions was wiped out by adverse currency movements.
In the second half so far, the company has acquired US-based product identification marketing company Label Vision Systems, US-based microseismic sensing technology provider Spectraseis and Sound Answers Inc, a US-based engineering services business focused on noise, vibration and harshness design and simulation.
The tough trading conditions, however, mean Spectris expects its adjusted operating profit for the full year 2015 will be towards the low end of market expectations.
"The period has been characterised by challenging trading conditions, particularly in our largest geographic region, North America," said Chief Executive John O'Higgins.
By Sam Unsted; [email protected]; @SamUAtAlliance
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