Instrumentation company Spectris said on Thursday that it had put on a “solid” third-quarter trading performance, underpinning its full-year guidance and providing momentum into 2022.
Spectris stated that sales growth had continued in the third quarter, up 12% in the period and 13% year-to-date, while its order book grew 31% in the quarter for a 21% year-to-date improvement.
However, the FTSE 250-listed firm stated that supply chain issues constrained its ability to translate said order book into revenue in the short-term but added that it was still on track to deliver like-for-like sales growth of 10-12%, as previously guided.
Reported sales decreased 1% to £324.7m in the quarter, while for the nine-month period, reported sales were broadly flat at £926.5m, with a 7% reduction from disposals and a 5% negative foreign currency exchange impact.
Chief executive Andrew Heath said: “We delivered a solid trading performance in the third quarter, consistent with our expectations at the half-year, thanks to the great support and engagement of our people.
“Our continued focus on supporting our customers and the positive impact of new product launches has driven demand ahead of the strong recovery in our target end markets.”
As of 0910 BST, Spectris shares were up 0.67% at 3,754.0p.
