Spirax-Sarco Engineering plc Announces Revenue Results for the Four Months Ended October 31, 2017; Provides Earnings Guidance for the Full Year 2018
Following the anniversary of the Brexit vote in June 2017, currency effects have moderated. If spot rates at 31st October 2017 prevail to the end of 2017, sales for the full year 2017 would be increased by approximately 5% with the uplift in profits expected to be in the region of 8%. If October's foreign exchange rates continue into next year the company expects to see a reduction in sales and profits in 2018 due to currency movements of just under 2% and 3% respectively.