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Spectris PLC on Thursday said it expects annual profit in line with expectations, after a ‘robust’ half-year. The provider of precision measurement instruments, test equipment and software, recently the object of a bidding war, said pretax profit in the first half of 2025 dropped 99% to £2.5 million from £235.3 million. However, adjusted operating profit, which excludes the £210.6 million boost Spectris had last year on the disposal of businesses, rose 7.4% to £65.6 million from £61.1 million. Revenue was up 7.9% to £636.1 million from £589.7 million. ‘We have transformed the group since 2018 into a portfolio of high-quality businesses with attractive growth and margin profiles, positioning Spectris for sustained success. Our expectations for 2025 are supported by an improving sales outlook and order momentum, along with the expected benefits from recent acquisitions and efficiency programs,’ Chief Executive Officer Andrew Heath commented. ‘We are achieving stronger synergies from acquisitions, and our profit improvement programme is firmly on track to deliver over £30 million of savings in 2025, two-thirds of which will be delivered in the second half.’ Spectris raised its interim dividend by 5.3% to 28 pence per share from 26.6p. Spectris on Tuesday withdrew its recommendation of a takeover offer from Advent International LP and instead backed an increased cash offer from funds advised by US private equity firm Kohlberg Kravis Roberts & Co. Project Aurora, a special purpose vehicle owned by the KKR funds, will pay £41.75 per share for Spectris, including the 28p dividend. The bid values all Spectris equity at £4.2 billion and implies an enterprise value of £4.8 billion. The offer represents a 1.8% premium to Advent’s increased offer for £41 per share, and is more than double the Spectris share price on June 6, the day before an initial approach from Advent was revealed. Spectris shares were 0.5% higher at 4,156.00p in London on Thursday morning. The acquisition is expected to complete by the first quarter of 2026. Looking to the rest of 2025, Spectris said it expects ‘adjusted operating profit to be in line with management expectations’. Back in its first quarter trading update in April, it predicted a profit outcome in line with market expectations. According to company-compiled consensus in May, adjusted operating profit of £235.4 million is expected for the year, a 16% rise from £202.6 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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