REG - Spirax-Sarco Engng - Half-year Report <Origin Href="QuoteRef">SPX.L</Origin> - Part 2
09/08/2017 07:06
- Part 2: For the preceding part double click ID:nRSI4581Na
- - (3.8) - (3.8) - (3.8)
Total other comprehensive income/(expense) for the period - - (4.3) 6.4 2.1 - 2.1
Total comprehensive income for the period - - (4.3) 67.2 62.9 0.1 63.0
Contributions by and distributions to owners of the Company:
Dividends paid - - - (39.4) (39.4) - (39.4)
Equity settled share plans net of tax - - - (0.4) (0.4) - (0.4)
Issue of share capital - 0.6 - - 0.6 - 0.6
Employee Benefit Trust shares - - 1.9 - 1.9 - 1.9
Balance at 30th June 2017 19.8 73.3 42.2 413.7 549.0 1.1 550.1
Other reserves represent the Group's translation, cash flow hedge, capital
redemption and Employee Benefit Trust reserves. The non-controlling interest
is a 2.5% share of Spirax-Sarco (Korea) Ltd held by employee shareholders.
For the period ended 30th June 2016(unaudited) Share capital £m Share premium account£m Otherreserves £m Retained earnings £m Equity shareholder's funds£m Non-controlling interest£m Total equity £m
Balance at 1st January 2016 19.7 69.7 (18.7) 326.8 397.5 0.8 398.3
Profit for the period - - - 51.4 51.4 0.1 51.5
Other comprehensive (expense)/income:
Foreign exchange translation differences - - 39.6 - 39.6 - 39.6
Remeasurement loss on post-retirement benefits - - - (33.2) (33.2) - (33.2)
Deferred tax on remeasurement loss on post-retirement benefits - - - 7.3 7.3 - 7.3
Loss on cash flow hedges reserve - - (2.4) - (2.4) - (2.4)
Total other comprehensive income/(expense) for the period - - 37.2 (25.9) 11.3 - 11.3
Total comprehensive income for the period - - 37.2 25.5 62.7 0.1 62.8
Contributions by and distributions to owners of the Company:
Dividends paid - - - (35.4) (35.4) (0.1) (35.5)
Equity settled share plans net of tax - - - 1.1 1.1 - 1.1
Issue of share capital - 1.0 - - 1.0 - 1.0
Employee Benefit Trust shares - - 2.8 - 2.8 - 2.8
Balance at 30th June 2016 19.7 70.7 21.3 318.0 429.7 0.8 430.5
For the year ended 31st December 2016(audited) Share capital £m Share premium account£m Other reserves £m Retained earnings £m Equity shareholders' funds £m Non-controlling interest £m Total equity £m
Balance at 1st January 2016 19.7 69.7 (18.7) 326.8 397.5 0.8 398.3
Profit for the year - - - 121.1 121.1 0.2 121.3
Other comprehensive (expense)/income:
Foreign exchange translation differences - - 61.6 - 61.6 0.2 61.8
Remeasurement loss on post-retirement benefits - - - (10.0) (10.0) - (10.0)
Deferred tax on remeasurement loss on post-retirement benefits - - - 1.9 1.9 - 1.9
Profit on cash flow hedges reserve - - 0.4 - 0.4 - 0.4
Total other comprehensive income/(expense) for the year - - 62.0 (8.1) 53.9 0.2 54.1
Total comprehensive income for the year - - 62.0 113.0 175.0 0.4 175.4
Contributions by and distributions to owners of the Company:
Dividends paid - - - (51.9) (51.9) (0.2) (52.1)
Equity settled share plans net of tax - - - (1.6) (1.6) - (1.6)
Issue of share capital - 3.0 - - 3.0 - 3.0
Employee Benefit Trust shares 0.1 - 1.3 - 1.4 - 1.4
Balance at 31st December 2016 19.8 72.7 44.6 386.3 523.4 1.0 524.4
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
Note Six months to 30th June 2017£m Six months to 30thJune 2016£m Year ended 31st December 2016£m
(unaudited) (unaudited) (audited)
Cash flows from operating activities
Profit before taxation 88.5 73.4 171.4
Depreciation, amortisation and impairment 19.8 15.3 33.1
Profit on disposal of fixed assets (0.6) - (1.5)
Contribution from Associate - - 0.1
Acquisition related fair value adjustments 1.3 0.1 -
Cash payments to the pension schemes less than the charge to operating profit 2.1 0.1 1.6
Equity settled share plans 1.8 1.3 1.9
Net finance expense 2.0 1.3 2.6
Operating cash flow before changes in working capital and provisions 114.9 91.5 209.2
Change in trade and other receivables 1.8 (0.1) (4.7)
Change in inventories (10.3) (2.6) 0.3
Change in provisions (0.1) 2.6 2.3
Change in trade and other payables (11.0) (2.4) 8.7
Cash generated from operations 95.3 89.0 215.8
Interest paid (0.9) (0.6) (1.4)
Income taxes paid (25.8) (27.3) (56.5)
Net cash from operating activities 68.6 61.1 157.9
Cash flows from investing activities
Purchase of property, plant & equipment (13.3) (14.1) (28.1)
Proceeds from sale of property, plant & equipment 2.1 0.7 3.3
Purchase of software and other intangibles (1.9) (2.3) (3.5)
Development expenditure capitalised (1.5) (1.1) (3.0)
Acquisition of businesses (153.8) (0.1) (66.5)
Interest received 0.6 0.7 1.4
Net cash used in investing activities (167.8) (16.2) (96.4)
Cash flows from financing activities
Proceeds from issue of share capital 0.6 1.0 3.0
Employee Benefit Trust share purchase - - (1.7)
Repaid borrowings 9 (8.6) (20.4) (20.4)
New borrowings 9 185.2 0.3 18.7
Change in finance lease liabilities 9 (0.2) (0.2) (0.1)
Dividends paid (including minorities) (39.4) (35.5) (52.1)
Net cash used in financing activities 137.6 (54.8) (52.6)
Net change in cash and cash equivalents 9 38.4 (9.9) 8.9
Net cash and cash equivalents at beginning of period 9 118.8 95.9 95.9
Exchange movement 9 2.2 6.7 14.0
Net cash and cash equivalents at end of period 9 159.4 92.7 118.8
Borrowings and finance leases 9 (273.2) (72.1) (91.4)
Net (debt)/cash at the end of the period 9 (113.8) 20.6 27.4
NOTES TO THE FINANCIAL STATEMENTS
1. BASIS OF PREPARATION
Spirax-Sarco Engineering plc is a company domiciled in the UK. The Condensed
Consolidated Interim Financial Statements of Spirax-Sarco Engineering plc and
its subsidiaries (the Group) for the six months ended 30th June 2017 have been
prepared in accordance with IAS 34 Interim Financial Reporting as adopted by
the EU. The accounting policies applied are consistent with those set out in
the 2016 Spirax-Sarco Engineering plc Annual Report.
These Condensed Consolidated Interim Financial Statements do not include all
the information required for full annual statements and should be read in
conjunction with the 2016 Annual Report. The comparative figures for the year
ended 31st December 2016 do not constitute the Group's statutory Financial
Statements for that financial year as defined in Section 434 of the Companies
Act 2006. The Financial Statements of the Group for the year ended 31st
December 2016 were prepared in accordance with International Financial
Reporting Standards adopted by the European Union. The statutory Consolidated
Financial Statements for Spirax-Sarco Engineering plc in respect of the year
ended 31st December 2016 have been reported on by the Company's auditor and
delivered to the registrar of companies. The report of the auditor was (i)
unqualified, (ii) did not include a reference to any matters to which the
auditor drew attention by way of emphasis without qualifying their report, and
(iii) did not contain a statement under Section 498 (2) or (3) of the
Companies Act 2006. The Consolidated Financial Statements of the Group in
respect of the year ended December 2016 are available upon request from Mr A.
J. Robson, General Counsel and Company Secretary, Charlton House, Cheltenham,
Gloucestershire, GL53 8ER, United Kingdom or on
www.spiraxsarcoengineering.com.
The Condensed Consolidated Interim Financial Statements for the six months
ended 30th June 2017, which have been reviewed by the auditor in accordance
with International Standard on Review Engagements (UK and Ireland) 2410
"Review of Interim Financial Information Performed by the Independent Auditor
of the Entity" issued by the Auditing Practises Board, were authorised by the
Board on 8th August 2017.
The Half Year Report and Interim Financial Statements (Half Year Report) has
been prepared solely to provide additional information to shareholders as a
body to assess the Group's strategies and the potential for those strategies
to succeed. This Half Year Report should not be relied upon by any other
party or for any other purpose.
GOING CONCERN
Having made enquiries and reviewed the Group's plans and available financial
facilities, the Board has a reasonable expectation that the Group has adequate
resources to continue its operational existence for the foreseeable future.
For this reason, it continues to adopt the going concern basis in preparing
the Condensed Consolidated Interim Financial Statements.
NEW STANDARDS AND INTERPRETATIONS NOT YET ADOPTED
There are a number of new standards, amendments to standards and
interpretations that are not yet effective for the period ended 30th June 2017
and have, therefore, not been applied in preparing these Condensed
Consolidated Interim Financial Statements.
The Directors have initiated an assessment of the impact that IFRS 15 (Revenue
from contracts with customers) will have on the Group. Based on the
preliminary results of the assessment the Directors do not expect the adoption
of IFRS 15 to have a material impact on the Financial Statements of the Group
in future periods. However, until our full assessment has been completed it
is not practical to provide an assessment of the full impact of IFRS 15. IFRS
15 is effective from 1st January 2018.
An assessment of the impact of IFRS 16 (Leases) has not yet been performed but
it may have a material impact on the reported assets and liabilities of the
Group but we do not expect it to have a material impact on the net assets,
income statement and cash flows of the Group. At 31st December 2016 the Group
had total operating lease obligations of £19.2m and an operating lease charge
of £5.7m for the year ended 31st December 2016. Beyond this information, it
is not practical to provide a reasonable estimate of the effect of this
standard until a detailed assessment has been completed. IFRS 16 is effective
from 1st January 2019.
IFRS 9 (Financial instruments) is effective from 1st January 2018 and we are
currently assessing the impact that this new standard will have on the Group
and an update will be provided in the 2017 year end Financial Statements.
Of the other new standards, none are anticipated to have a significant impact
on the Financial Statements.
SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES
The preparation of Interim Financial Statements, in conformity with adopted
IFRS, requires management to make judgements, estimates and assumptions that
affect the application of accounting policies and the reported amount of
assets and liabilities, income and expense. Actual results may differ from
these estimates. In preparing these Condensed Consolidated Interim Financial
Statements, the significant judgements made by management in applying the
Group's accounting policies and the key sources of estimation uncertainty were
the same as those that applied to the Consolidated Financial Statements for
the year ended 31st December 2016.
CAUTIONARY STATEMENTS
This Half Year Report contains forward-looking statements. These have been
made by the Directors in good faith based on the information available to them
up to the time of their approval of this Report. The Directors can give no
assurance that these expectations will prove to have been correct. Due to the
inherent uncertainties, including both economic and business risk factors
underlying such forward-looking information, actual results may differ
materially from those expressed or implied by these forward-looking
statements. The Directors undertake no obligation to update any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
RESPONSIBILITY STATEMENT
The Directors confirm that to the best of their knowledge:
· this Condensed Consolidated set of Interim Financial Statements has
been prepared in accordance with IAS 34 Interim Financial Reporting as adopted
by the EU;
· the interim management report includes a fair review of the information
required by:
(a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication
of important events that have occurred during the first six months of the
financial year and their impact on the Condensed Consolidated Financial
Statements, and a description of the principal risks and uncertainties for the
remaining six months of the financial year.
(b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party
transactions that have taken place in the first six months of the current
financial year that have materially affected the financial position or
performance of the entity during that period, and any changes in the related
party transactions described in the last annual report that could do so.
The Directors of Spirax-Sarco Engineering plc on 8th August 2017 are the same
as those listed in the 2016 Annual Report on pages 64 and 65.
N. J. Anderson
Group Chief Executive
8th August 2017
K. J. Boyd
Group Finance Director
8th August 2017
On behalf of the Board
2. ADJUSTED PERFORMANCE MEASURES
The Group uses adjusted figures as key performance measures in addition to
those reported under adopted IFRS, as management believe these measures enable
users of the Financial Statements to better assess the underlying trading
performance of the business. Adjusted figures exclude certain non-operational
items that are predominantly acquisition or disposal related items. Items
that are classified as adjustments include:
· Amortisation and impairment of acquisition-related goodwill and other
intangible assets
· Depreciation of acquisition-related fair value adjustments to tangible
assets
· Acquisition and disposal related costs and contingent consideration fair
value adjustments
· Profits or losses on termination or disposal of businesses, including
recycling exchange impacts
· Related tax effects on the above.
Adjusted operating profit
A reconciliation between operating profit as reported under IFRS and adjusted
operating profit is given below.
Six months to 30th June 2017 £m Six months to 30th June 2016 £m Year ended 31st December 2016 £m
Operating profit as reported under IFRS 90.5 74.7 174.1
Amortisation of acquisition-related intangible assets 5.2 2.7 6.0
Acquisition costs 4.2 0.1 0.5
Reversal of acquisition related fair value adjustments to inventory 1.3 - -
Adjusted operating profit 101.2 77.5 180.6
Adjusted earnings per share
Six months to 30th June 2017 Six months to 30th June 2016 Year ended 31st December 2016
Profit for the period attributable to equity holders as reported under IFRS (£m) 60.8 51.4 121.1
Non-operational items excluded from adjusted operating profit (£m) 10.7 2.8 6.5
Tax effects on non-operational items (£m) (1.3) (0.7) (1.7)
Adjusted profit for the period attributable to equity holders (£m) 70.2 53.5 125.9
Weighted average shares in issue (million) 73.5 73.3 73.4
Basic adjusted earnings per share 95.5p 73.1p 171.5p
Diluted weighted average shares in issue (million) 73.7 73.6 73.6
Diluted adjusted earnings per share 95.2p 72.8p 171.0p
Basic and diluted EPS calculated on an IFRS profit basis are included in Note
6.
Adjusted operating cash flow
Adjusted net cash from operating activities presents the Group's net cash flow
on a more comparable basis with adjusted operating profit. A reconciliation
showing the items that bridge between net cash from operating activities as
reported under IFRS to an adjusted basis is given below.
Six months to 30th June 2017 £m Six months to 30th June 2016 £m Year ended 31st December 2016 £m
Net cash from operating activities as reported under IFRS 68.6 61.1 157.9
Acquisition costs 4.2 - 0.5
Capital expenditure excluding acquired intangibles from acquisitions (15.2) (16.8) (32.8)
Profit on disposal of fixed assets 0.6 - 1.5
Tax paid 25.8 27.3 56.5
Interest paid 0.9 0.6 1.4
Adjusted net cash from operating activities 84.9 72.2 185.0
Cash conversion in the first half is 84% (2016: 93%). Cash conversion is
calculated as adjusted net cash from operating activities divided by adjusted
operating profit. The adjusted cash flow is included in the Review of
Operations on page 6.
Capital employed
This is an important non-statutory measure which the Board uses to help it
effectively monitor the performance of the Group. More information on Capital
employed can be found in the Review of Operations on page 5.
An analysis of the components is as follows:
Capital Employed 30th June 2017 £m 30th June 2016 £m 31st December 2016 £m
Property, plant and equipment 209.8 185.3 201.8
Non-current prepayments 5.7 5.7 5.9
Inventories 131.4 104.1 112.5
Trade receivables 189.1 160.7 185.5
Other current assets 28.1 25.2 21.7
Tax recoverable 7.8 9.3 11.2
Trade, other payables and current provisions (111.6) (90.8) (110.0)
Current tax payable (20.2) (14.4) (18.6)
Capital employed 440.1 385.1 410.0
A reconciliation of capital employed to net assets as reported under IFRS and
disclosed on the Consolidated Statement of Financial Position is given below.
30th June 2017 £m 30th June 2016 £m 31st December 2016 £m
Capital employed 440.1 385.1 410.0
Intangibles and investment in Associate 317.9 117.2 169.7
Post-retirement benefits (91.1) (113.8) (94.2)
Deferred tax 0.6 23.6 15.0
Non-current provisions and long-term payables (3.6) (2.2) (3.5)
Net (debt)/cash (113.8) 20.6 27.4
Net assets as reported under IFRS 550.1 430.5 524.4
Organic measures
As we are a multi-national Group of companies, who trade in a large number of
foreign currencies and regularly acquire and sometimes dispose of companies,
we also refer to organic performance measures throughout the Half Year
Results. These strip out the effects of the movement of foreign currency
exchange rates and of acquisitions and disposals. The Board believe that this
allows users of the accounts to gain a further understanding of how the Group
has performed.
The exchange movement is calculated as the difference between the prior period
reported value translated at prior period exchange rates and translated at
current period exchange rates.
Any acquisitions and disposals that occurred in either the current period or
prior period are excluded from the results of both the prior and current
period at current period exchange rates.
A reconciliation of the movement in revenue and adjusted operating profit
compared to the prior period is given below:
Six months to 30th June 2016 Exchange Organic Acquisitions Six months to 30th June 2017 Organic Reported
Revenue £344.0m £36.1m £20.7m £27.8m £428.6m +5% +25%
Adjusted operating profit £77.5m £12.1m £6.7m £4.9m £101.2m +8% +31%
Adjusted operating margin 22.5% 23.6% +50 bps +110 bps
The reconciliation for each segment is included in the Review of Operations.
3. SEGMENTAL REPORTING
As required by IFRS 8, Operating Segments, the following segmental information
is presented in a consistent format with management information considered by
the Board.
Analysis by location of operation
Six months to 30th June 2017 Grossrevenue£m Inter-segment revenue£m Revenue£m Totaloperatingprofit£m Adjustedoperatingprofit£m Adjustedoperatingmargin%
Europe, Middle East & Africa 160.9 (23.0) 137.9 25.2 30.4 22.0%
Asia Pacific 100.5 (2.6) 97.9 24.6 25.0 25.5%
Americas 75.9 (3.6) 72.3 12.3 13.8 19.1%
Steam Specialties business 337.3 (29.2) 308.1 62.1 69.2 22.4%
Watson-Marlow 120.5 - 120.5 35.2 37.9 31.4%
Corporate expenses (6.8) (5.9)
457.8 (29.2) 428.6 90.5 101.2 23.6%
Intra-Group (29.2) 29.2
Total 428.6 - 428.6 905 101.2 23.6%
Net finance expense (2.0) (2.0)
Profit before tax 88. 99.2
Six months to 30th June 2016 Grossrevenue£m Inter-segment revenue£m Revenue£m Totaloperatingprofit£m Adjustedoperatingprofit£m Adjustedoperatingmargin%
Europe, Middle East & Africa 130.1 (18.0) 112.1 22.8 23.1 20.6%
Asia Pacific 83.7 (1.7) 82.0 17.8 18.1 22.0%
Americas 64.9 (3.3) 61.6 12.4 13.4 21.7%
Steam Specialties business 278.7 (23.0) 255.7 53.0 54.6 21.3%
Watson-Marlow 88.3 - 88.3 27.8 29.0 32.9%
Corporate expenses (6.1) (6.1)
367.0 (23.0) 344.0 74.7 77.5 22.5%
Intra-Group (23.0) 23.0
Total 344.0 - 344.0 74.7 77.5 22.5%
Net finance expense (1.3) (1.3)
Profit before tax 73.4 76.2
Year ended 31st December 2016 Grossrevenue£m Inter-segmentrevenue£m Revenue£m Totaloperatingprofit£m Adjustedoperatingprofit£m Adjustedoperatingmargin%
Europe, Middle East & Africa 273.9 (39.6) 234.3 49.6 50.0 21.3%
Asia Pacific 197.7 (4.4) 193.3 49.3 49.9 25.8%
Americas 142.9 (7.0) 135.9 26.9 29.2 21.5%
Steam Specialties business 614.5 (51.0) 563.5 125.8 129.1 22.9%
Watson-Marlow 193.9 - 193.9 61.1 64.3 33.1%
Corporate expenses (12.8) (12.8)
808.4 (51.0) 757.4 174.1 180.6 23.8%
Intra-Group (51.0) 51.0
Total 757.4 - 757.4 174.1 180.6 23.8%
Net finance expense (2.6) (2.6)
Share of loss of Associate (0.1) (0.1)
Profit before tax 171.4 177.9
The total operating profit for each period includes the non-operational items
analysed below:
Six months to 30th June 2017 Amortisationof acquisition-related intangible assets Acquisition costs Reversal of acquisition related fair value adjustments to inventory Total
£m £m £m £m
Europe, Middle East & Africa (0.9) (3.3) (1.0) (5.2)
Asia Pacific (0.4) - - (0.4)
Americas (1.2) - (0.3) (1.5)
Steam Specialties business (2.5) (3.3) (1.3) (7.1)
Watson-Marlow (2.7) - - (2.7)
Corporate expenses - (0.9) - (0.9)
Total non-operational items (5.2) (4.2) (1.3) (10.7)
Six months to 30th June 2016 Amortisationof acquisition-related intangible assets£m Acquisition costs £m Total £m
Europe, Middle East & Africa (0.3) - (0.3)
Asia Pacific (0.3) - (0.3)
Americas (1.0) (0.1) (1.1)
Steam Specialties business (1.6) (0.1) (1.7)
Watson-Marlow (1.1) - (1.1)
Total non-operational items (2.7) (0.1) (2.8)
Year ended 31st December 2016 Amortisationof acquisition-related intangible assets Acquisition costs Total
£m £m £m
Europe, Middle East & Africa (0.4) - (0.4)
Asia Pacific (0.6) - (0.6)
Americas (2.2) (0.1) (2.3)
Steam Specialties business (3.2) (0.1) (3.3)
Watson-Marlow (2.8) (0.4) (3.2)
Total non-operational items (6.0) (0.5) (6.5)
Net financing income and expense
Six months to 30th June 2017 Six months to 30th June 2016 Year ended 31st December 2016
£m £m £m
Europe, Middle East & Africa (1.1) (0.7) (1.5)
Asia Pacific (0.1) 0.2 0.2
Americas (0.4) (0.4) (0.7)
Steam Specialties business (1.6) (0.9) (2.0)
Watson-Marlow - - -
Corporate (0.4) (0.4) (0.6)
Group total (2.0) (1.3) (2.6)
Net assets
30th June 2017 30th June 2016 31st December 2016
Assets £m Liabilities £m Assets £m Liabilities £m Assets £m Liabilities£m
Europe, Middle East & Africa 376.4 (112.2) 196.8 (115.6) 195.3 (106.8)
Asia Pacific 160.4 (27.4) 152.8 (27.6) 163.1 (38.5)
Americas 133.3 (38.7) 112.2 (43.9) 127.0 (38.6)
Watson-Marlow 211.8 (27.9) 136.5 (19.8) 211.7 (23.8)
881.9 (206.2) 598.3 (206.9) 697.1 (207.7)
Liabilities (206.2) (206.9) (207.7)
Deferred tax 0.6 23.6 15.0
Net current tax payable (12.4) (5.1) (7.4)
Net (debt)/cash (113.8) 20.6 27.4
Net assets 550.1 430.5 524.4
Capital additions, depreciation and amortisation
Six months to 30th June 2017 Six months to 30th June 2016 Year ended 31st December 2016
Capital additions £m Depreciation and amortisation £m Capital additions £m Depreciation and amortisation £m Capital additions £m Depreciation and amortisation£m
Europe, Middle East & Africa 73.5 6.9 5.3 5.8 11.1 12.4
Asia Pacific 4.8 3.8 7.6 3.3 12.6 6.9
Americas 2.1 3.4 2.6 2.6 8.0 5.9
Watson-Marlow 3.7 5.7 2.0 3.6 38.5 7.9
Group total 84.1 19.8 17.5 15.3 70.2 33.1
Capital additions include property, plant and equipment at 30th June 2017 of
£22.1m; at 30th June 2016 of £14.1m; and at 31st December 2016 of £36.9m; and
other intangible assets at 30th June 2017 of £62.0m; at 30th June 2016 of
£3.4m; and at 31st December 2016 of £33.3m of which at 30th June 2017 £56.5m;
at 30th June 2016 £nil and 31st December 2016 £26.8m relates to acquired
intangibles from acquisitions in the period.
4. NET FINANCING INCOME AND EXPENSE
Six months to 30th June 2017 £m Six months to 30th June 2016 £m Year ended 31st December 2016 £m
Financial expenses:
Bank and other borrowing interest payable (0.9) (0.6) (1.4)
Net interest on pension scheme liabilities (1.7) (1.3)
- More to follow, for following part double click ID:nRSI4581NcRecent news on Spirax
See all newsREG - Spirax Group PLC - Result of AGM
AnnouncementREG - Spirax Group PLC - Trading Update
AnnouncementREG - Spirax Group PLC - Director/PDMR Shareholding
AnnouncementREG - Spirax Group PLC - Change in Director Details
AnnouncementREG - Spirax Group PLC - Director/PDMR Shareholding
Announcement