March 15, 2018 / 7:33 AM / 6 months ago

Valve maker Spirax-Sarco posts better-than-expected profit, revenue

March 15 (Reuters) - Spirax-Sarco Engineering Plc reported better-than-expected full-year revenue and adjusted pretax profit on Thursday, helped by acquisitions and strength in Europe, Middle East and Africa markets.

The company, which makes steam traps and pumps for industries including food and beverages and healthcare, said adjusted pretax profit rose 28.7 percent to 229.1 million pounds ($320.3 million) in the year ended Dec. 31, beating analysts’ average estimate of 219.5 million pounds, according to Thomson Reuters I/B/E/S.

Revenue rose 31.9 percent to 998.7 million pounds in 2017, also the estimate of 979.2 million pounds. ($1 = 0.7153 pounds) (Reporting By Justin George Varghese in Bengaluru Editing by Saumyadeb Chakrabarty)

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