Spirax-Sarco says growth is slow

Spirax-Sarco Engineering’s first-half adjusted pre-tax profit has risen 15 per cent, helped by higher demand for its products in emerging markets, but the firm said the pace of growth had slowed in the second half. The firm, which supplies steam traps, pumps and boiler controls, said it would not be immune to a further slowdown in the global economy. Pre-tax profit rose to £63m, on revenue up 11 per cent at £307.7m.