FTSE-100 engineering company Spirax-Sarco has recorded a 7% drop in profits for the first half of the year.
Bosses at the Gloucestershire headquartered firm, which specialises in thermal energy management, said this was due to enterprise resource planning write-down and restructuring.
The firm, however, saw its sales rise by 13% to £850.8m, which it credited to a “currency tailwind” of 1.5% and a 10% impact from the first-time contribution of its acquisitions of Vulcanic and Durex Industries.
Nicholas Anderson, chief executive of Spriax-Sarco said: “We achieved first half results that are broadly in line with our expectatio …
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