Spectris profit hurt by lower mining demand
Reuters
Published Jul 25, 2014 07:20
Updated Jul 25, 2014 07:30
Spectris profit hurt by lower mining demand
(Reuters) - Electrical engineering equipment maker Spectris Plc said first-half pre-tax profit slumped 10 percent, dented by a weaker- than-expected performance in the second quarter primarily in the mining and academic research sectors.
The company, which makes testing and control equipment for the mining, oil and gas, pharmaceutical and transportation industries, said a strong pound also hurt its revenue and operating profit.
The FTSE 250 company, which gets most of its revenue from outside the UK, said its second half would benefit from investments incurred in the first half.
(Reporting by Aashika Jain in Bangalore; Editing by Gopakumar Warrier)
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Written By: Reuters
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