Spectris: 32 years of dividend growth

Spectris plc (SXS: LSE), have amassed a 32 year long record of unbroken growth following their announcement of a 5% dividend rise for 2021.

The London precision measurement firm, who have a track record in worldwide delivery of precision measurements and specialist insight, this week announced their end of year results.

In addition to the 5% dividend growth, Spectris’ report boasted a 19% rise in like-for-like ('LFL') product sales and strong customer demand.

The report concluded Spectris are a more focused, higher quality, more profitable business with a stronger balance sheet than before.

Company year-end net cash of £167.8 million provides options for mergers and acquisitions. While the adjusted operating profit was £209.4 million, giving it a statutory operating profit of £154.9 million.

Despite commenting on their ongoing supply chain issues Spectris reported a record order book. Spectris management hope the strong start to 2022 provides the business with momentum for the remainder of the year

Andrew Heath, Spectris Chief Executive, said: "We delivered a good financial performance in 2021 and have made significant progress in executing our Strategy for Profitable Growth, thanks to the hard work of the whole Spectris team.

"Demand for our products and services has been strong, and although supply chain and COVID challenges somewhat constrained our ability to maximise sales in the fourth quarter, we entered 2022 with a record order book, and a strong start to the year.

“We are making good progress in returning the Group to its previous adjusted operating margin highs of 18%, and ultimately exceeding them over the longer term.

“I am really pleased with the progress made in executing our strategy. We are creating a Spectris that is more focused, higher quality, more profitable and more resilient, and supported by a very strong balance sheet.”

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