REG-Spectris PLC Interim Management Statement

Released: 05/11/2009

com:20091105:RnsE9860B
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RNS Number : 9860B  
  
Spectris PLC  
  
05 November 2009  
  
SPECTRIS PLC  
  
PRESS RELEASE  
  
05 November 2009  
  
INTERIM MANAGEMENT STATEMENT  
  
Spectris plc, the productivity-enhancing instrumentation and controls company, 
today issues its Interim Management Statement covering the period from 1 July to 
4 November 2009.   
  
On a reported basis, sales for the four months ended 31 October 2009 were 4% 
lower than the prior year, including a contribution from acquisitions (5%) and 
beneficial effects from currency (10%); on a constant currency organic basis, 
sales were therefore 19% lower.   
  
Since we announced our interim results in August, market conditions have 
remained broadly unchanged. However, we have noted some stabilisation in demand, 
although visibility is still limited. With continuing low production levels in 
many of the industries we serve, we are planning for a gradual recovery in our 
markets commencing in 2010. Our restructuring activities are expected to deliver 
benefits in 2009 and 2010 in line with projections outlined at the time of our 
interim statement. We are confident that with our continued focus on new 
products and applications and the contribution from acquisitions we are well 
placed as our markets return to growth.  
  
The group continues to maintain a good financial position, with operating cash 
conversion remaining strong. In September, we replaced the £50 million facility 
maturing in December with a £40 million three-year term facility on market 
terms, giving committed bank facilities of £130 million. There have been no 
other significant events or transactions since the beginning of the period which 
would have a material impact on the financial position of the group.  
  
Spectris will issue a trading update in January 2010 ahead of its announcement 
of preliminary results for the year ending 31 December 2009, due to be released 
on 23 February 2010.    
  
ENDS  
  
About Spectris  
  
Spectris plc is a leading supplier of productivity-enhancing instrumentation and 
controls. The company's products and technologies help customers to improve 
product quality and performance, improve core manufacturing processes, reduce 
downtime and wastage and reduce time to market. Its global customer base spans a 
diverse range of end user markets.   
  
Spectris operates across four business segments which reflect the applications 
and industries it serves: Materials Analysis, Test and Measurement, In-line 
Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, the 
company employs approximately 5,800 people, with offices in 29 countries.  
  
For more information, visit www.spectris.com   
  
Contacts:  
  
Spectris plc  
  
John O'Higgins, Chief Executive      01784 470470  
  
Clive Watson, Group Finance Director     01784 470470  
  
FD  
  
Richard Mountain                            020 7269 7186  
  
Copies of this announcement are available from the company's registered office 
at Station Road, Egham, Surrey TW20 9NP, and on the company's website at 
www.spectris.com.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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