Spectris PLC FY23 Pre-tax Profit Climbs, Lifts Dividend; Sees Further Progress In FY24

(RTTNews) - Spectris plc (SEPJF.PK, SXS.L), a supplier of precision instrumentation and controls, reported Thursday that its fiscal 2023 profit before tax went up 23% to 185.6 million pounds from last year's 151.5 million pounds.

Net profit for the year was 145.4 million pounds, down from last year's 401.5 million pounds, which included discontinued operations. Earnings per share fell to 139.4 pence from 370.7 pence a year ago.

On a continuing operations basis, earnings per share grew 31 percent from 106.7 pence a year ago.

Adjusted profit before tax was 263.6 million pounds, compared to 219.7 million pounds last year. Adjusted earnings per share were 199.7 pence, compared to 159.9 pence a year ago.

Sales grew 9 percent to 1.45 billion pounds from prior year's 1.33 billion pounds. On like-for-like or LFL basis, sales went up 10 percent.

Further, the company proposed final dividend for the year ended 31 December 2023 of 53.9 pence per share, higher than last year's 51.3 pence.

Looking ahead for fiscal 2024, Spectris said it expects to deliver another year of further progress, 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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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