20th May 2016 06:14
LONDON (Alliance News) - Spectris PLC on Friday said acquisitions boosted sales in the first four months as it continues to restructure to better align spending plans with sales growth.
The FTSE 250-listed company, which makes precision measurement instruments for industrial markets, said reported sales for the first four months of 2016 grew 2.0%. Acquisitions contributed all of this growth, as like-for-like sales declined 4.0% in the period, Spectris said.
Spectris said it is making good progress on its restructuring and is focusing on better aligning its cost growth to its sales growth.
"Trading conditions in the period continued to be challenging. Within this environment we remain focused on implementing our targeted restructuring programmes," said Chief Executive John O'Higgins.
"Whilst we have limited visibility on trading, we have good end-market and geographic diversification and will benefit from our self-help actions to improve future profitability. These factors all underpin the board's view that the outlook for 2016 remains unchanged and that we are well positioned for the future," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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