By Anthony O. Goriainoff
Spectris said Monday that pretax profit for the first half rose as sales increased, and upgraded its guidance for the full year.
The FTSE 250 precision-measurement specialist said that pretax profit was 68.5 million pounds ($88 million) compared with GBP41.8 million for the first half of 2022.
Revenue rose to GBP702.5 million from GBP570.2 million in the year-prior period.
The company said sales for the six-month period were up 23% and rose 19% on a like-for-like basis.
The board now expects organic sales growth for the full year to be ahead of the previous 6% to 7% guidance range, Spectris said. The company continues to expect strong progress on margins and sees full-year adjusted operating profit in the GBP250 million to GBP265 million range, representing strong double-digit on-year growth, it said.
“While we remain vigilant and alert to the broader macro environment, the strong first-half performance and strength of our order book means we are upgrading our guidance for the full year,” Chief Executive Andrew Heath said.
Write to Anthony O. Goriainoff at [email protected]
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