H2 15 revenues declined by 10% yoy, to £1.6bn, slightly below consensus expectations. The operating profit came in at £123m (-24% yoy), slightly above consensus. By division: 1) Critical Engineering: H2 15 revenues were down 11% yoy, to £336m, the EBIT margin was 15.8% (vs. 18.2% in H2 14). 2) Precision Engineering: revenues were down 10% yoy, to £320m. The EBIT margin was 16.9% (vs. 17.9% in H2 14), impacted by the unfavourable sales mix. The company expects demand in
26 Feb 2016
Volume headwinds; confirming 2019 EBIT growth target
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Volume headwinds; confirming 2019 EBIT growth target
IMI plc (IMI:LON) | 1,726 -189.9 (-0.6%) | Mkt Cap: 4,514m
- Published:
26 Feb 2016 -
Author:
Marzio Foa -
Pages:
2
H2 15 revenues declined by 10% yoy, to £1.6bn, slightly below consensus expectations. The operating profit came in at £123m (-24% yoy), slightly above consensus. By division: 1) Critical Engineering: H2 15 revenues were down 11% yoy, to £336m, the EBIT margin was 15.8% (vs. 18.2% in H2 14). 2) Precision Engineering: revenues were down 10% yoy, to £320m. The EBIT margin was 16.9% (vs. 17.9% in H2 14), impacted by the unfavourable sales mix. The company expects demand in