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Spirax‐Sarco Engineering hikes dividend 7% as profit edges higher
StockMarketWire.com
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Thermal energy and heat pumping specialist Spirax‐Sarco Engineering posted small rise in annual profit and lifted its dividend after trading improved in the fourth quarter.
Pre-tax profit for the year through December edged up 1% to £240.1 million, from £236.8 million year-on-year, even as revenue slipped 4% to £1.19 billion.
Adjusted pre-tax profit fell 5% to £261.5 million.
Spirax‐Sarco declared a full-year dividend of 118.0p per share, up 7% year-on-year.
'Following a stronger than anticipated fourth quarter, we are very pleased with the group's performance in 2020, given the unprecedented circumstances caused by the COVID-19 pandemic,' chief executive Nicholas Anderson said.
'These results demonstrate our ability to adapt to the changing requirements of our customers, the diverse nature of our end markets and the resilience of our business model.'
Story provided by StockMarketWire.com
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