Watson-Marlow sales up 23%
23 Mar 2011
Falmouth, UK – Watson-Marlow Pumps Group has reported a 38% rise in its operating profit to £30.8 million. The result was achieved on 2010 sales of £103 million, 23% higher than the prior-year turnover at the Falmouth-based maker of positive displacement pumps, tubing and accessories.
The higher sales included the first full-year of contribution from the MasoSine part of the business which was acquired in August 2009 and added 7% to the sales growth, noted the company – part of Spirax-Sarco Engineering Group plc.
Watson-Marlow achieved good sales increases across the UK and Continental Europe due, it said, 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, helped by a recovery in US general industrial and water treatment markets. Sales growth was robust in the Asia Pacific region, though from a much smaller base.
“We invested in the business through the recession in 2009 to improve manufacturing efficiency, accelerate new product development and increase penetration of our markets” said said Mike Sullivan, group marketing manager at Watson-Marlow. “We have continued to do so in 2010 thereby stepping up our investments in market development.”
Parent group Spirax Sarco Engineering plc, meanwhile, posted a 32% hike in operating profit to a record £119.1 million, on higher sales volumes, manufacturing efficiencies, cost reductions, pricing, acquisitions and favourable exchange rates.
