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Watson-Marlow Pumps Group Announces Annual Sales Increase of 23%
The Falmouth based manufacturer of positive displacement pumps, tubing and accessories has seen sales increase by 23% to GBP103.0 million (2009: GBP83.8 million). Sales benefited from a full year of contribution from the MasoSine part of the business which was acquired in August 2009 and added 7% to the sales growth.
Watson-Marlow, which has a global network of facilities and is part of the Spirax-Sarco Engineering Group plc has also reported that operating profit of GBP30.8 million. This compares with GBP22.3 million in 2009, representing an increase of 38%.
Sales in Watson-Marlow's EMEA region were well ahead with good increases spread across the UK and Continental Europe due to much higher demand from OEM customers. Shipments of the company's Bredel products rebounded well in 2010 against a weak 2009.
Sales in the Americas were also well ahead, with good growth in the USA from a recovery in the general industrial and water treatment markets. Sales growth was robust in the Asia Pacific region, albeit from a relatively small base.
Commenting on the results Mike Sullivan, Group Marketing Manager at Watson-Marlow said:
"We invested in the business through the recession in 2009 to improve manufacturing efficiency, accelerate new product development and increase penetration of our markets. We have continued to do so in 2010 thereby stepping up our investments in market development. These figures are extremely impressive and this is good news for our staff, our customers and the manufacturing sector in general."
At a group level, Spirax Sarco Engineering plc's operating profit increased to a record GBP119.1 million (2009: GBP89.9 million), giving an increase of 32% in sterling and 26% at constant currency. The increase in operating profit arose from operational gearing on higher sales volumes, increased manufacturing efficiencies, cost reduction actions taken in 2009, pricing, acquisitions and favourable exchange rates.
For further information please visit www.watson-marlow.co.uk
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