Spirax-Sarco Engineering shares rise as it ups dividend
"Following a stronger than anticipated fourth quarter, we are very pleased with the group's performance in 2020," said Nicholas Anderson
Company
Spirax Group PLC
LON:SPX
Normal 0 false false false EN-GB X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-fareast-language:EN-US;} Spirax Group PLC, formerly Spirax-Sarco Engineering, provides knowledge, service and products for the control and use of steam and other industrial fluids and for peristaltic pumping.
67 stories · page 2 of 4
Spirax-Sarco turns up dial on dividend but expects tougher second half
The pumps maker believes revenue growth in the second half of the year will be lower than previously anticipated
Spirax-Sarco knocked to ‘hold’ as Peel Hunt says outlook now reflected in share price
The broker highlighted that all of the firm’s production facilities were now up and running and over 50% of sales directed to “critical sectors on the frontline of the pandemic”
Spirax-Sarco confirms dividend after robust first quarter, expects worse to come
The steam and pumps specialist said trading has so far held up well, but it believes “the worst of the downturn will occur in the second and third quarters of 2020”
Spirax-Sarco Engineering confirms full-year expectations despite economic backdrop, Peel Hunt upgrades
In the four months to 31 October, group sales excluding acquisitions and disposals had a lower growth rate compared to the previous period
Spirax-Sarco outstrips industrial production in first half but global market is slowing down
The steam-control specialist grew revenues 8% organically and at reported rates
Spirax-Sarco slips off all-time high as Goldman says 'sell'
Goldman Sachs cut its rating from its previous ‘neutral’ stance, but still upped its share price target to 7,500p from 6,700p with the FTSE 100 group’s shares having surged more than 50% in 2019
Peel Hunt likes industrials but wary of some 'nosebleed' valuations for Diploma and Spirax-Sarco
The flight to safety in 2019 has pushed the share price premium for a handful of UK industrial stocks to "nose-bleed multiples" not seen since the financial crisis, the broker said
Berenberg prefers “outstanding” Spirax-Sarco over rival engineers Spectris and Rotork
The German bank believes Spirax justifies its premium valuation, while it is yet to be convinced by Spectris’ and Rotork’s growth plans
Spirax-Sarco builds up steam but warns about slowing industrial growth
Global industrial production growth is forecast to slow to 2.0% for 2019, down from a previous estimate of 2.6% and the 3.3% seen last year
Archive
FTSE 100 closes higher as Trump trade fears ease
The mid-cap FTSE 250 was also a shade higher - adding around two points at 19,369
Archive
More turbulence likely from first-half numbers from travel firm TUI on Wednesday
Aside from the TUI numbers, blue-chip firms including DIY stores group Kingfisher, contract caterer Compass Group and credit checking firm Experian will also issue updates on Wednesday
Cobham trading in line as it appoints new chairman
Jamie Pike will be well-known to many investors as the current chair of RPC and Spirax-Sarco, while he has also been chairman at Ibstock and Tyman in recent years
Archive
FTSE 100 ends lower as US stocks retreat after mixed tech earnings
The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
Archive
Barclays set to kick off Q1 reporting season for UK banks
Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
Spirax-Sarco shares cool as it cautions on industry slowdown, moderates growth forecasts for 2019
In an outlook statement accompanying its full-year results for 2018, the engineering firm said global industrial production growth had slowed throughout the year to 3.3% from 3.6% and was likely to drop even lower in 2019
FTSE 100 closes lower after European Central Bank strikes downbeat note
"Brutal cuts from the ECB as GDP growth for 2019 is cut from 1.7% to 1.1%. With this in mind, it seems like any possible interest rate raises are all but completely ruled out until likely 2021," declared Jordan Hiscott, the chief trader at
Archive
Insurers Aviva and Admiral in Thursday’s results spotlight
Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
Hardware & electrical equipment
Spirax Sarco poised to buy French thermal solutions specialist Thermocoax
A particular advantage of Thermocoax's cable heaters is that they are small in size and low in weight compared with conventional tubular heaters allowing precise delivery of heat.
Spirax-Sarco sells air humidification unit for €59mln
HygroMatik joined the Spirax Sarco Group in 1988 but due to limited strategic fit has always operated separately from the Steam Specialties division in which it is reported