British manufacturing firm Spirax falls as order delays impact profit margin
The company also saw lower demand for large projects in its steam thermal solutions division, particularly in China and South Korea, where trading conditions remain challenging.
Spirax provides thermal energy and fluid technology solutions in a range of industrial sectors, from healthcare and pharmaceuticals to transport and power generation.
China and South Korea, which make up about 15% of its group sales, have been weighing on the business as clients cut back on expansion and due to an unstable political environment in Korea.
Shares of the Cheltenham, UK-based company were down 4.6% at 6,280 by 0801 GMT.
Spirax maintained its 2025 guidance for organic revenue growth and profit margin but now expects forex to be a 3% headwind to sales and 6% to profit, up from previous estimates of 2% and 4%, respectively.
While the company said its local manufacturing facilities cushion it from any direct exposure to U.S. tariffs, it expects to mitigate any potential financial impact through surcharges, pricing and limited reorganisation of manufacturing activity.
It reported organic revenue growth in low single-digit percentages for the first four months of the year, with an adjusted operating profit margin slightly lower than the same period in 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
an hour ago
- Daily Mail
DAILY MAIL COMMENT: Keir Starmer must fight for UK drug firms
The life sciences industry is among the brightest jewels in the British economy, generating £100billion a year and employing more than 300,000 people. At its heart is the development and manufacture of pharmaceuticals, notably by AstraZeneca, which spends vast sums on research and is worth £167billion. So, if this hugely successful company were to relocate to the US, it would be a disaster both for the London Stock Exchange and the wider economy. Worryingly, this is not out of the question. AstraZeneca already sells 40 per cent of its drugs to America and, following President Donald Trump 's tariff threat, is ramping up research and production there. While there are no immediate plans to desert the UK, chief executive Pascal Soriot is said to be 'flirting' with the idea. Mr Trump's latest demand that foreign drug companies cut prices to US customers or face penalties may be an added incentive. The Left has always been highly critical of 'Big Pharma', accusing it of profiteering on the backs of NHS patients. Under Jeremy Corbyn, Labour planned to create a state-owned drug manufacturer with the power to override the patents which enable firms to make profits from their research. Only last year, Sir Keir Starmer refused to help fund a new vaccine plant in Liverpool – while pouring public money into our ailing steel industry. This Government must understand that failing to nurture AstraZeneca, GSK and others would be a catastrophic mistake. And Sir Keir should realise that while they say they want to remain in the UK, they may yet change their mind. Car lenders off hook Banks and credit providers will have heaved a huge sigh of relief yesterday after the Supreme Court ruled they will not have to pay compensation to millions of motorists who bought cars on finance without being told the dealers were receiving commission on the loan. The Treasury was also delighted with the result. Had it gone the other way, damages could have been comparable to the PPI scandal, which destabilised the financial industry for more than a decade. The court decided that dealers did not have a duty to act solely for buyers and that commissions were not a form of bribery in the legal sense, as had been alleged. However, it was not a total exoneration. Court President Lord Reed also ruled that excessive commission payments were unfair and ordered one buyer who had been charged 25 per cent of the value of the car to be repaid with interest. This opens the way to further claims. Many brokers and dealers were paid behind-the-scenes commission by lenders to sign buyers up to car finance deals, a practice deemed 'unlawful' by the Court of Appeal in October last year - a decision that was successfully appealed by lenders at the Supreme Court The dealers and lenders have escaped their worst fears, but they do not come out well. They have certainly been guilty of sharp practices even if not illegal ones. The Competition and Markets Authority must now force them to clean up their act. OAPs feel the cold In September, Rachel Reeves promised she would 'put more money in pensioners' pockets'. What she didn't say is that she would take even more out. Research shows pensioner households are an average of £800 worse off after a year of Labour thanks to higher bills – mainly owing to the Chancellor's £40billion Budget tax raid. With more taxes coming down the track to fill Labour's ever-widening financial black hole, the cost of living is set to soar further. For all Ms Reeves' promises, the elderly are in for a bitter winter.
Auto Blog
an hour ago
- Auto Blog
Hyundai Offers Killer 2026 Santa Fe Lease Deal for August
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Macan will return with gas power, only it won't be the Macan at all. The boxy-good and high-tech Santa Fe is one of the most appealing mid-size SUVs around The 2026 Hyundai Santa Fe looks like the South Korean brand took a 2016 Land Rover LR4 and created its own, fresher, and more attractive version. Fully redesigned last year, the Santa Fe departs completely from its sleeker predecessor in favor of a more upright and boxy look. With sharply defined fender arches, distinctive H-pattern headlights and taillights reminiscent of Minecraft blocks, an extra-wide tailgate, and a confidently boxy silhouette, the Santa Fe delivered one of the boldest and most original designs in recent memory. It's now the brand's second best-selling SUV (behind the Tucson) and third best-selling vehicle (the Elantra takes the #2 spot). The competition in the midsize SUV segment is fierce, and the Santa Fe's bold design and airy cabin stand out in a field that's packed with competitors like the Honda CR-V, Toyota RAV4, Nissan Rogue, Subaru Forester, Kia Sorento, and Mazda CX-5. The fifth-generation Santa Fe is easily the boxiest in the set, and it's the only one to offer a standard third row. It has space galore, brilliant storage, cutting-edge in-car technology, and some of the best standard features in the industry. The August lease deal makes it even more appealing. 2026 Hyundai Santa Fe lease deal for July Source: Hyundai August is a great time to get into a new Santa Fe SE with a lease deal at $349 per month for 36 months. $3,999 due at least signing, which includes the first $349 monthly payment and $3,650 capitalized cost reduction. No security deposit is required. Does not include registration, tax, title, license, processing or documentation fees, insurance, or any emission charge. The mileage limit is 10,000 miles per year. A $400 disposition fee is due at the end of the lease (except for CO, IN, IA, KS, ME, OK, SC, WI, WV, & WY, where the disposition fee is subject to the limitations of state laws). Not all lessees will qualify, and higher rates may apply for those with lower credit scores. Lease offer ends September 2, 2025. Learn more here. 2026 Hyundai Santa Fe SE feature highlights The Hyundai Santa Fe SE is the base model in the lineup. It features a 2.5-liter turbocharged four-cylinder engine that delivers 277 horsepower and 311 lb-ft of torque. It comes in front-wheel drive or optional all-wheel drive, using an 8-speed automatic transmission. EPA estimates are 20 city, 29 highway, and 24 combined with front wheel drive. All-wheel drive drops a smidge with 20, 28, and 23, respectively. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Standard features on the SE include 18-inch alloy wheels, 235/60 R18 all-season tires, LED headlights and DRLs, LED taillights, automatic headlights, heated side mirrors, a handsfree smart liftgate with auto open, proximity key, power lumbar driver's seat, power folding rear seats, a 12.3-inch infotainment touchscreen with OTA updates, a 4.2-inch driver information display, wireless Apple CarPlay/Android Auto, and a proximity key with push button start. Source: Hyundai The robust set of standard safety features includes blind spot collision warning, rear cross-traffic avoidance assist, parking distance warning, forward collision avoidance assist with pedestrian/cyclist/junction turning detection, adaptive cruise control with stop & go, lane keeping assist, driver attention warning, safe exit assist, and lane following assist. The Santa Fe also earned the IIHS Top Safety Pick+ for 2025, a remarkable achievement given the rigorous testing and high standards required to earn the title. The Santa Fe's total passenger volume is 166.6 cubic feet, and the second row provides a truly spacious 42.3 inches of second-row legroom, while the third row offers 30 inches of legroom. The cargo area provides 14.6 cubic feet behind row three, 40.5 cubic feet of space behind the second row, and 79.6 cubic feet with the second and third rows folded flat. Final thoughts Source: Hyundai The 2026 Hyundai Santa Fe is one of the most original SUVs on the road today. It offers tremendous versatility with its lounge-like rear section and wide liftgate. Great standard features on the base model, such as a wireless device charger, adaptive cruise control, and a 12.3-inch color touchscreen, are great examples of how much value Hyundai bakes into its vehicles. With three rows of roomy seating, the Santa Fe can accommodate big families without any trouble, and it does so in style. The very affordable monthly lease payment makes it even more attractive in the month of August. Before signing the lease agreement, be aware of the costs due at signing, including taxes and registration fees, etc. Read the lease agreement carefully and inquire about potential additional costs at the dealership. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Amos Kwon View Profile
The Sun
2 hours ago
- The Sun
Giant new ‘garden village' next to UK holiday hotspot with 1,200 homes, riverside park & shops is finally unveiled
PLANS for a giant new village next to a UK holiday hotspot with 1200 homes have now been unveiled. The proposals to launch Canford Garden Village in Dorset will be essential in tackling the ever-pressing housing crisis in the UK. 3 3 3 The Canford scheme aims to create a new community focusing on family housing and social infrastructure. The site will be located near Wimborne in Dorset, and it is thought to be prime real estate, according to W.H. White. W.H White are behind the plans which were submitted to Bournemouth, Christchurch and Poole Council (BCP). The plans are to build 1200 new homes across the 230 hectares site, creating a characterful village which is architecturally striking which fits within the landscape. In order to help ease the housing crisis currently taking hold of the UK, it has been reported that 40 per cent of the new buildings will be affordable homes. What's more, it will not be just a housing development, as the plans recognise the need for supporting infrastructure. For example, there will be a community hub, flexible workspaces, community facilities, and a care home. There will also be education and healthcare provision, as well as local infrastructure improvements to ease the pressure that would be placed on surrounding areas. A total of 600 of the homes would be dedicated to first-time buyers, social rent and shared ownership schemes. Scott Worsfold Associates were selected to create a complete design vision. The plans for the site were was unanimously approved for a new sustainable community in March 2021 by the Bournemouth, Christchurch and Poole Council. The land used to be a former quarry and golf course, and will now be made into a biodiverse community. Current farmland is also earmarked to be turned into 90 hectares of publicly available green space with new habitats and allotments. The proposal has garnered support from various stakeholders, including Dorset Chamber and Dorset Local Enterprise Partnership, who emphasise the economic benefits and job creation potential of the development. However there has been some backlash to the proposals. It was reported that there were critics to the plan due to concerns regarding the potential impact on existing infrastructure, traffic congestion, and highway safety, particularly concerning access to the site from Blandford Road. Some were also concerned about the proximity to existing facilities like Lockyer's Middle School, which could cause longterm disruption. Ward councillor for Bearwood and Merley, Richard Burton, said: "We've had a lot of development in Bearwood and therefore I know my residents will be very worried about this because of the impact it could have." However, he said the scheme is in the very early stages and this scoping application does not mean the local authority is supporting it. 'From a political point of view, I do totally understand that we need more affordable housing in BCP, but just choosing the easiest places to build, which is currently Green Belt, isn't the way forward and it's not sustainable," said Cllr Burton. W.H. White said there would be a commitment to low carbon construction with solar energy, ground source heating and opportunities for localised renewable energy. A spokesperson for W.H. White said: 'The current shortfall in housing supply, combined with well-documented viability challenges of delivering homes on urban land, has prompted renewed interest in strategic and deliverable opportunities such as at Canford Village.' BCP Council previously said it would soon initiate a new call for potential development sites in the conurbation as part of ongoing efforts to deliver new homes. Cllr Millie Earl, leader of BCP Council, previously said: 'It is important that we balance our future development priorities whilst protecting the beautiful area that we live in and the precious natural environment we are so lucky to have.'
