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Spectris Q3 Sales Down, LFL Sales Climb; Backs FY21 LFL Sales Growth View

Instrumentation and controls company Spectris plc (SEPJF.PK,SXS.L) reported Thursday that its third-quarter sales decreased 1 percent from last year to 324.7 million pounds.

Disposals, net of acquisitions, reduced sales by 7 percent and there was a 5 percent negative foreign currency exchange impact.

Group like-for-like sales increased 12 percent year-on-year and were 2 percent higher than in pre-pandemic 2019.

Order book continued to see strong momentum with orders growing 31 percent on a LFL basis in the period.

Looking ahead, the company said that as expected the supply chain is now constraining its ability to translate the very strong order book to revenue in the short-term.

However, it is on track to deliver LFL sales growth for the full year of 10-12 percent, as previously guided.

Andrew Heath, Chief Executive, said, "The strength of our order book supports our previous outlook for the year and provides further momentum heading into 2022."

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