Spirax Sarco delivers record performance in 2021 … and there’s more to come

Spirax Sarco

Spirax‐Sarco Engineering plc, the Cheltenham-headquartered multi‐national thermal energy management and pumping specialist has reported revenues up a lucky 13 per cent to £1,344.5 million, with operating profits up 29 per cent to £320.9 million.

Organic sales at Watson-Marlow, its peristaltic pump business based in Cornwall, were up 32 per cent, with organic sales at Steam Specialties up 12 per cent, and demand growth even stronger. Electric Thermal Solutions organic sales were up severn per cent and the company has a record closing order book across all three businesses. 

Spirax Sarco employés around 1,000 people at its factories in Gloucestershire.

Nicholas Anderson, Group Chief Executive, said: “The excellent performance of our Group in 2021 is testament to the strength of our organisation, business model and strategy that delivered organic sales 13 per cent above pre-pandemic levels and record margins despite global supply chain constraints. These results demonstrate the determination of our teams to remain focused on high quality execution, while also continuing to make significant investments to support our future growth and sustainability.  We are deeply proud of all our colleagues for achieving such outstanding performance.

 “Our robust business model and disciplined execution of our strategies have underpinned the resilience of our performance throughout economic cycles, so we remain confident in our ability to navigate the growing uncertainties ahead.  For 2022 we currently anticipate strong sales growth, driven by record order books and continued global Industrial Production growth.  While adjusted operating profit growth will be reduced by the full-year impact of revenue investments in 2021, we currently anticipate the adjusted operating profit margin in 2022 will still be comfortably above pre-pandemic levels.”