July 6 (Reuters) – Britain’s Spirax-Sarco Engineering Plc (SPX.L) said first-half sales were up 8 percent at constant currency on the strength of its order book and recent acquisitions.
The Cheltenham-based company, which makes products such as pumps and boilers for processes using steam, expects adjusted operating profit margin to be above 19 percent, compared with 15 percent a year ago.
Spirax-Sarco said the Watson-Marlow pumps business was leading its growth.
The company, which sees high capital investment for the year, said rising material costs would impact the second half.
Spirax-Sarco said it had net cash balances of 18 million pounds ($27.2 million) and a strong balance sheet at end-June.
Shares of the company closed at 1,358 pence on Monday on the London Stock Exchange. ($1=.6608 Pound) (Reporting by Aditi Samajpati in Bangalore; Editing by Vinu Pilakkott)
Inpex ‘full steam ahead’ on EIS: Henderson
The Northern Territory Chief Minister says he hasn’t heard that Inpex has again delayed its final decision to build an LNG processing plant in Darwin.
Paul Henderson says he met with Inpex executives in Darwin yesterday and there was no talk of a delay.
“They are full steam ahead on providing the EIS for public comment in the not too distant future,” Mr Henderson said.
“If you have a look at their website there’s over a billion dollars worth in Inpex tenders out at the moment for this project, so I have had no advice to that effect and Mr Koroda was in town just yesterday.”