Spirax posts sales and profit growth; reiterates full-year guidance
(Alliance News) - Spirax Group PLC on Wednesday reiterated its full-year guidance after reporting organic sales growth and margin in line with expectations.
The Cheltenham, England-based thermal energy and fluid technology specialist said group organic sales growth and adjusted operating profit margin met expectations during the ten months ended October.
Steam Thermal Solutions organic sales growth in the four months to October was higher than the first half, benefiting from a larger order book and stabilising demand in China. Electric Thermal Solutions maintained strong growth, supported by semiconductor demand. Watson-Marlow Fluid Technology Solutions also reported accelerating growth in its biopharmaceutical business.
Performance across its three divisions was driven by its Together for Growth Strategy, Spirax said.
Spirax said it continues to expect mid-single-digit organic revenue growth for 2026 and an adjusted operating profit margin above the 20% recorded in 2025, alongside cash conversion of around 90%.
Net borrowings fell to GBP541.6 million on October 31 from GBP618.2 million on June 30, while its net debt-to-earnings before interest, tax, depreciation and amortisation ratio improved to 1.3 times from 1.6 times.
Spirax shares rose 3.9% to 7,645.00 pence on Wednesday morning in London.
By Niall Holden, Alliance News reporter
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