LONDON (dpa-AFX) - Industrial engineering group, Spirax-Sarco Engineering plc (SPX.L) reported Wednesday that its first-half profit before taxation edged up 1 percent to 108.1 million pounds from last year's 106.8 million pounds.
Basic earnings per share, meanwhile, dropped 3 percent to 102.4 pence from 105.1 pence a year ago.
Adjusted profit before taxation was 124.6 million pounds, compared to 120.6 million pounds last year. Adjusted basic earnings per share were 120.0 pence, compared to 119.2 pence last year.
Revenue for the period grew 8 percent to 591.2 million pounds from last year's 547.6 million pounds. Organic revenue growth was 8 percent.
Further, the company announced that interim dividend is increased by 10 percent to 32.0 pence.
Looking ahead, the company said its overall full year expectations remain unchanged.
The company continues to expect Group adjusted operating profit margin in 2019 to be at a similar level to 2018, despite the absence of the higher margin HygroMatik business and last year's devaluation-driven profit boost from Argentina.
Spirax-Sarco expects the second half trading conditions to be below earlier estimates.
Assuming no significant deterioration in trading conditions, the Board remains confident that the Group will continue to make progress in 2019.
Copyright RTT News/dpa-AFX