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    Mark Davies Jones

    Managing Director and Senior Industrials Analyst at Stifel

    Mark Davies Jones is a Managing Director and Senior Industrials Analyst at Stifel, based in London, specializing in equity research within the UK and US industrials markets. He covers a broad portfolio of 23 stocks, including leading companies such as Melrose Industries Plc, demonstrating a track record with a 53% success rate and an average return of 3.9% per rating according to TipRanks. Jones began his equity research career in 1992 at Smith New Court (later Merrill Lynch), later leading sector teams at both JP Morgan and Citigroup, before joining Stifel in 2015 following a partnership at Agency Partners LLP. He holds a degree from Emmanuel College, Cambridge, and is recognized for his analytical expertise and depth of experience in global industrials.

    Mark Davies Jones's questions to Spirax-Sarco Engineering PLC/ADR (SPXSY) leadership

    Mark Davies Jones's questions to Spirax-Sarco Engineering PLC/ADR (SPXSY) leadership • Q2 2023

    Question

    Mark Davies Jones from Stifel asked for a breakdown of the drivers behind Steam Specialties' exceptional H1 growth, specifically the price/volume split, and questioned if there was a financing risk for Watson-Marlow's smaller, startup customer base.

    Answer

    Group Chief Executive Nicholas Anderson attributed the strong Steam Specialties growth primarily to the business's competitive strength and an increasing contribution from self-generated projects, while acknowledging price was a larger factor than historically. He dismissed concerns about customer financing risk, noting that Watson-Marlow's customer base is dominated by large, well-established players, not capital-constrained startups.

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    Mark Davies Jones's questions to Spirax-Sarco Engineering PLC/ADR (SPXSY) leadership • Q2 2023

    Question

    Mark Davies Jones from Stifel asked for a breakdown of the exceptional H1 growth in the Steam division by price versus volume and potential catch-up effects. He also inquired about potential financing challenges for Watson-Marlow's smaller, startup customers.

    Answer

    Group Chief Executive Nicholas Anderson attributed the strong Steam growth to the business's underlying competitive strength, a growing proportion of self-generated solutions, and a higher contribution from price due to inflation. Regarding Watson-Marlow's customers, he stated that customer financing is not a factor, as their base consists of large, established pharmaceutical and biotech companies, not primarily capital-constrained startups.

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