LONDON (dpa-AFX) - Thermal energy and niche pumping specialist Spirax-Sarco Engineering plc (SPX.L), on Wednesday, reported that organic sales growth in the four months to the end of April was in line with the company's expectations, aided by all three Businesses expanding manufacturing capacity and mitigating supply chain constraints.
Order books in all three Businesses remain at all-time highs as demand continued to exceed sales. In line with the company's view, Watson-Marlow's sales to the Pharmaceutical & Biotechnology sector grew over 20%, with the remaining Group organic revenue streams growing significantly above IP.
Further, the company announced that the final dividend of 97.5 pence per share, a 15% increase over prior year, will be paid on 20th May subject to shareholder approval, with a cash impact of £72 million.
The company continues to expect around 20% growth for Watson-Marlow's sales to the Pharmaceutical & Biotechnology sector, as well as organic sales growth well above IP for the remainder of the Group's organic revenues.
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