Sales up 23 per cent at precision manufacturer Spectris

By Nicky Godding

1 August 2023

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Spectris plc, the Surrey supplier of precision measurement instruments and controls, has reported sales up 23 per cent from volume growth, market share gains and pricing.

Sales were up 21 per cent at Spectris Scientific, and up 23 per cent at Spectris Dynamics, with other sales up 33 per cent.

Over the year the company has launched new products in all its businesses underpinned by investment in R&D. Spectris Dynamics has also agreed to acquire USA-based MicroStrain Sensing Systems Business.

Based in Vermont, MicroStrain is a leading developer of inertial and wireless sensing systems, serving the industrial and aerospace sensing systems market. The business has seen strong growth driven by increased demand from industrial automation and the development and adoption of new robotics, logistics, unmanned vehicles and mobility applications. MicroStrain has developed a network of blue-chip customers, including internationally regarded robotic and autonomous equipment innovators. The Company's unaudited revenue for the year ended June 2022 was $15.4 million.

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Andrew Heath, Chief Executive, said: "We have good momentum in the business and I am delighted to see the progress we are making with our Strategy for Sustainable growth. The strong financial performance in the first half reflects continued strategic execution and the brilliant contribution of my colleagues across the Group.

"In Spectris Dynamics and Spectris Scientific, we have two great premium precision measurement businesses on attractive growth trajectories, more aligned than ever to markets with a strong sustainability focus. Demand for our solutions is being amplified by new products and services addressing these trends. Having repositioned Spectris over the past three years, we are now a higher quality, more customer-focused and resilient business.

"While we remain vigilant and alert to the broader macro environment, the strong first half performance and strength of our order book means we are upgrading our guidance for the full year. We continue to drive operational excellence to reduce emissions, improve productivity and efficiency in-line with our ambition to be a leading sustainable, compound-growth business."

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.