DJ Spirax-Sarco Engineering Delivered Strong Growth, Impressive Ebita Margin in 1H -- Market Talk
0724 GMT - Spirax-Sarco Engineering has delivered a good set of results, with strong organic revenue growth and an impressive Ebita margin, Jefferies says. Sales of GBP644 million were in line with consensus, but Ebita of GBP163 million is 7% ahead, the U.S. bank says. Spirax-Sarco is well-positioned for near- and long-term growth and, while sales guidance looks unchanged, the margin commentary points to consensus upgrades, Jefferies says. "Spirax is a great business, but we stay at underperform on valuation grounds," Jefferies says. Shares in the FTSE 100 engineering company rise 1.7% to 15,375 pence. (jaime.llinares@wsj.com)
(END) Dow Jones Newswires
August 11, 2021 03:24 ET (07:24 GMT)
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