Spectris has reported a slow start to 2016 with LFL sales down 4% and declines in each region apart from Asia Pacific. Despite this, management reiterated existing expectations, which were clarified as adjusted operating profit of c.£182-183m, reflecting a combination of its broad spread of end markets and self-help measures to improve profitability. We have reduced our estimates by 4% pa, to adjusted operating profit of c.£181m. With the share price almost in line with our 1765p target price an ....

25 May 2016
Forecasts reduced on slow start to 2016

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Forecasts reduced on slow start to 2016
Spectris plc (SXS:LON) | 3,394 848.4 0.7% | Mkt Cap: 3,456m
- Published:
25 May 2016 -
Author:
Jo Reedman -
Pages:
5 -
Spectris has reported a slow start to 2016 with LFL sales down 4% and declines in each region apart from Asia Pacific. Despite this, management reiterated existing expectations, which were clarified as adjusted operating profit of c.£182-183m, reflecting a combination of its broad spread of end markets and self-help measures to improve profitability. We have reduced our estimates by 4% pa, to adjusted operating profit of c.£181m. With the share price almost in line with our 1765p target price an ....