Aug 08, 2024 / 08:15AM GMT
Nimesh Patel - Spirax Group PLC - Group CEO, Executive Director
Good morning, and welcome to our 2024-first-half results presentation. I'm Nimesh Patel, Chief Executive of Spirax Group. And I'm joined today by Phil Scott, our Interim Chief Financial Officer. And also in the audience is Louisa Burdett, who joined the group in July to be our new Chief Financial Officer.
The first half of this year has been more challenging than we had anticipated. Our financial results are slightly below our plans. And we have taken a more cautious view for the remainder of 2024. Overall, group organic sales growth was 1.3%, reflecting a weaker macroeconomic environment in key markets in the first half, particularly in China.
Estimates for industrial production growth in China vary significantly across different forecast providers, and they've changed materially and often. Therefore, we focused on global IP, excluding China, which in the first half was up 0.8%. This compares to our group organic sales growth, excluding China, of 2.7%, so well ahead of IP.
In STS, where China represents nearly 20%
Half Year 2024 Spirax Group PLC Earnings Call Transcript
Aug 08, 2024
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers