LONDON (dpa-AFX) - Spirax-Sarco Engineering plc, (SPX.L), a thermal energy management and niche pumping specialist, Wednesday said trading for fourth months has been in line with its expectations.
Adjusted operating profit margin of the group was lower than the same period in 2022. The company expects the group's operating margin to recover in the second half of the year, driven by higher demand.
Net debt excluding leases on April 30, was 710 million pounds up from 690 million pounds on December 31, 2022.
The company also declared a dividend of 109.5 pence per share, a 12 percent increase from last year, that will be paid on May 19.
Looking forward to the full fiscal of 2023, the company reaffirmed its outlook. The IP forecast of 1.3% remains. The company anticipates double digit sales growth and mid-single-digit sales growth over 2022 pro-forma sales.
Tuesday, shares of Spirax-Sarco Engineering closed at 11,145 pounds, down 2.45% or 280 pounds.
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