Spectris Q1 sales slip, continues to expect 'strong progress' in FY25

(Sharecast News) - Precision instrumentation supplier Spectris said on Wednesday that it continues to expect "strong progress" in 2025 despite the "uncertain macroeconomic environment" created by Donald Trump's "reciprocal" tariffs. Spectris said recent softness had continued into Q1, with uncertainty impacting certain end markets, delaying deliveries and order intake.

On a constant currency basis, Q1 sales were 2% lower year-on-year at £299.0m, while Spectris' order book was up 4% at £529.0m, with a book-to-bill ratio of 1.07x.

However, the FTSE 100-listed group highlighted that it continues to expect to deliver "strong growth" in adjusted operating profits in 2025, in line with market expectations, whilst still being mindful of the uncertain macroeconomic environment, noting that its "strong market positions", as well as its ability to apply surcharges, should help it to offset the direct impact of tariffs.

Chief executive Andrew Heath said: "We continue to make strong progress in executing our strategy, while also retaining a tight control on costs and working closely with our customers as they navigate current market dynamics. Customers' need for the highest quality products will continue to drive demand.

"While the indirect tariff impact on end market demand is unclear at this early stage, we expect to be able to mitigate the direct impact of tariffs, supported by our strong, differentiated market positions, the importance of Spectris' products to our customers, and the Group's global operational footprint."

As of 0830 BST, Spectris shares were down 0.40% at 1,994.0p.

Reporting by Iain Gilbert at Sharecast.com