LONDON (dpa-AFX) - Spectris plc (SEPJF.PK, SXS.L), a supplier of precision instrumentation and controls, reported Thursday that its first-quarter sales declined 13 percent to 309.4 million pounds from last year's 354.3 million pounds.
Sales in the first quarter were lower 8 percent on a like-for-like or LFL basis.
In Spectris Scientific, sales fell 6 percent on a LFL basis driven by pharma/life sciences and academia, against a strong first quarter last year where sales were up 26 percent.
In Spectris Dynamics, LFL sales were 10 percent lower against last year's sales growth of 21 percent.
Order book at the end of the quarter at 534.2 million pounds, 3 percent higher than year-end.
The company noted that the first quarter was slightly softer than anticipated, yet its expectation for the full year remains unchanged
'We expect to deliver another year of progress in 2024, including margin expansion, after taking into account the impact of the Red Lion disposal. Progress is expected to be weighted towards the second half reflecting the strong performance of the Group in the first half of 2023 and an improving outlook in a number of key end markets,' the company noted.
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