Strong first half performance improves full year outlook at Cheltenham-based Spirax Sarco
Cheltenham-based thermal energy management and niche pumping specialist, Spirax‐Sarco Engineering plc has reported half year revenue growth of 13 per cent.
The company reported a strong order book across all its three businesses, Steam Specialties, Electric Thermal Solutions and Watson-Marlow.
Nicholas Anderson, Group Chief Executive, said: "A strong recovery of global industrial production in the first half of this year, combined with exceptional COVID-19 vaccine related demand in Watson-Marlow, has supported strong organic sales and profit growth across all three businesses. These results continue to demonstrate the robust business model, strategy and execution of our Group, being achieved through the outstanding efforts and dedication of all our employees in managing the higher levels of demand to meet our customers' needs. This excellent first half execution underpins our improved full year profit outlook."
Spirax Sarco employs almost 7,900 employees across the world, including more than 1,900 direct sales and service engineers (85 per cent of it sales come from maintenance and repair budgets).