Spirax-Sarco says overall expectations unchanged

Spirax-Sarco Engineering said it still has much to do in the remainder of this year but that its overall FY expectations are unchanged and the board has confidence the group will make further progress in 2016.

The company said industrial production growth rates have remained at close to nil-growth levels throughout the year, in both developed and emerging markets.

"However, we have continued with the implementation of our strategy aimed at generating growth from our own actions to outperform our markets by being more effective in identifying and generating engineered solutions to help our customers with energy efficiency, sustainability, productivity, quality, cost reduction and compliance with ever increasing regulatory requirements," it said.

"We continue with our investment programmes in support of future growth as well as seeking out acquisitions in industries related to those we currently operate in.

"Whilst we continue to have limited visibility, with short order books and markets that remain lacklustre, we have good diversification across market sectors and geographic regions and will remain focused on our strategies for growth, which, together with the Group's fundamental strengths stand us in good stead.

"We still have much to do in the remainder of this year but our overall expectations for the full-year are unchanged and the Board has confidence that the Group will make further progress in 2016."