Spirax-Sarco trading statement

graeme at 8:45 a.m. Mon 09 Nov 2009

Pump and valve manufacturer Spirax-Sarco has issued a trading statement very like those of other engineers who have reported recently.

Sales are down 9% at CER, while trading profit margin has improved as a result of favourable changes in exchange rates.

The statement does not way anything useful on the outlook. It is likely to be similar to test of the sector, with the fourth quarter remaining difficult and a return to growth in 2010. The lack of any discussion may be a sign that Spirax-Sarco’s management is a little less confident about recovery.

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