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)