Spirax Group reported that Global IP - excluding China - for the first nine months of the year was 1.6% and full year forecasts have been revised down to 1.6%. Third quarter IP was lower than the first half with continued weakness in key markets. Group organic sales growth and adjusted operating profit margin for the ten months ended 31 October were ahead of organic growth and margin in the first half. The Group remains on track to deliver annualised savings of approximately 35 million pounds from restructuring.
Spirax Group guidance for the full year remains unchanged. It continues to expect organic growth in Group revenues consistent with that achieved in 2024 and well ahead of IP. Group adjusted operating profit margin is expected to be ahead of the currency adjusted 2024 margin, driving mid-single digit organic growth in adjusted operating profit.
The Group noted that uncertainty around the broader impact of tariffs on global trade has persisted and continues to dampen business confidence and demand for large projects.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.