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Spectris PLC - Egham, Surrey-based supplier of precision instrumentation and controls - Hails strong start to 2023 with continued momentum from last year. Notes organic like-for-like sales growth of 24%, or 34% on a reported basis to £354.3 million from GBO264.9 million a year earlier. In Spectris Scientific, sales grew 26%, while Spectris Dynamics sales grew 21%. Net cash stands at £278.4 million at period end. Looking ahead, says it is confident to deliver full year guidance of 6% to 7% organic sales growth for 2023. Chief Executive Officer Andrew Heath says: ‘We have made a very strong start to the year, building on the momentum from the second half last year, with our revenue performance supported by improving conversion of order backlog, market share gains, recent new product launches and sustainability drivers. As expected, margins continue to improve, reflecting the easing of supply chains and our actions on pricing and operational efficiencies.’ Current stock price: 3,728.00 pence each 12-month change: up 40% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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