Fast growth in China during the third quarter helped instruments maker Spectris offset a slowdown in Europe. It also confounded the critics who had priced in a heavy slice of bad news.
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Strip out acquisitions and a small currency hit and sales grew 2 per cent in the three months to 30 September. True, progress was slower than in the first half, but each of the firm’s four divisions managed growth. Like for like sales jumped 15 per cent in China, and 6 per cent in Asia Pacific overall. They rose just 1 per cent in North America, but that offset a 2 per cent decline in Europe, which was no worse than expected.
