THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
Trading update
Spectris plc (SXS: LSE) ("Spectris"
or the "Company"), the expert in providing insight through
precision measurement, today provides an update on trading for the
second quarter and outlook for the full year.
As announced in our first quarter
trading update on 2 May, we successfully rolled out our new ERP
system globally across Malvern Panalytical in April. While
the implementation went well and the system is fully functioning,
the anticipated disruption to operations, that is typically
associated with projects of this type, has lasted longer than we
originally expected. As a result, we expect around £15
million of sales and £10 million of operating profit to move into
the second half with no impact on the full year as operations
return to normal.
Additionally, in Malvern Panalytical,
the combination of weaker demand in China, a significant reduction
in battery development, associated with the slowdown in sales of
electric vehicles, and continued, subdued trading in
pharmaceuticals, is expected to reduce sales and operating profit
by a further £15 million and £10 million respectively in the first
half.
Trading across our other businesses
is in line with our expectations.
As a result of our performance in the
first half, and our revised expectations for the second half, we
now expect adjusted operating profit to be at, or marginally below,
the bottom end of the range of consensus analyst
expectations[1] for
the full year.
Our results for the first six months
to the end of June 2024 will be published on Tuesday 30
July.
Conference call
A conference call for analysts and
investors will be hosted by Andrew Heath, Chief Executive, and
Derek Harding, Chief Financial Officer, at 08.00 BST today to
discuss this statement.
To access the call, please dial +44
(0) 20 3936 2999 - Participant code: 404829. Or for replay,
please dial +44 (0) 20 3936 3001 - Participant code:
752762.
For and on behalf of Spectris
plc
LEI Number:
213800Z4CO2CZO3M3T10
END
Contacts:
Spectris plc
Mathew Wootton
Investor Relations
Director
+44 7500 078880
Teneo
Martin Robinson/Giles
Kernick
+44 20 7353 4200
This Announcement contains inside
information for the purposes of article 7 of the Market Abuse
Regulation (EU) 596/2014 which is part of UK law by virtue of the
European Union (withdrawal) Act 2018. The person responsible for
arranging for the release of this Announcement on behalf of the
Company is Rebecca Dunn, Company Secretary.
About Spectris
Spectris combines precision with
purpose, delivering progress for a more sustainable world. We
provide critical insights to our customers through premium
precision measurement solutions combined with technical expertise
and deep domain knowledge. Precision is at the heart of what we do
- our leading, high-tech instruments and software equip our
customers to solve some of their greatest challenges to make the
world cleaner, healthier and more productive. We are focused on two
key divisions - Spectris Scientific and Spectris Dynamics, which
are placed in technology-driven end markets, with strong
fundamentals and attractive growth trajectories. We have leading
market positions in premium segments and employ 7,000 people
located in more than 30 countries, all united behind our purpose to
deliver value beyond measure for all our stakeholders. For more
information, visit www.spectris.com.