Spirax-Sarco Engineering Plc full-year forecast falls to a contraction

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Spirax-Sarco Engineering Plc full-year forecast falls to a contraction

Spirax-Sarco Engineering Plc (LON: SPX) has released a trading update for the four months ended 30th April 2020.

  • The company has stated that the full-year forecast has fallen to a contraction of 6.6 per cent as the impact of the COVID-19 pandemic is felt across the world, as compared to the previously announced forecast of an expansion of 0.8 per cent.
  • The company now expects quarterly year-on-year contractions of 3.8 per cent, 10.6 per cent, 7.6 per cent and 4.2 per cent expected throughout the year.
  • The company has also informed that a small number of its manufacturing facilities in different countries faced temporary closures to comply with government orders; however, all its production facilities are now open.
  • On 13th May 2020, at the time of writing, GMT 09:13 AM, SPX shares were trading at GBX 9,444.00, up by 182.00 points or 1.97% against the previous day closing price.

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