17th Jan 2014 09:29
LONDON (Alliance News) - Spectris PLC said Friday that it was pleased with its fourth-quarter performance, despite expecting an adjusted operating profit slightly below the previous year.
Spectris, which develops and markets productivity-enhancing instrumentation and controls, said reported and like-for-like revenue rose 3% in the quarter ended December 31, 2013, from a year before.
For the fourth quarter the company said it expects to report an adjusted operating profit of GBP214.7 million, declined from GBP216.9 million in the previous year. Margin is also expected to be lower at 17.9%, down from GBP18.4%.
Revenue for the full year grew 2% compared to the the previous year, with equal contributions coming from acquisitions and foreign exchange movements. Like-for-like revenue for the year was broadly flat, it said.
In the fourth quarter like-for-like revenue grew 12% in Asia, 2% in North America and 1% in Europe. As a result like-for-like revenue for the full year grew 1% in Asia and 2% in Europe, but declined 3% in North America.
Shares in Spectris were down 1.3% at 2,449.00 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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