H2 17 results: revenue came in at £903m (flat yoy), and operating profit was £135m (+2% yoy), both in line with consensus expectations. Outlook for 2018 - H1 organic revenues should be higher than in H1 17, with a modest margin improvement. - Management has confirmed that the improved market conditions in Precision Engineering should continue in 2018. - The full year should benefit from H2 thanks to rationalising savings and normal seasonality.
02 Mar 2018
Disappointing Hydronic performance drags growth down
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Disappointing Hydronic performance drags growth down
IMI plc (IMI:LON) | 1,726 138 0.5% | Mkt Cap: 4,512m
- Published:
02 Mar 2018 -
Author:
Marzio Foa -
Pages:
3
H2 17 results: revenue came in at £903m (flat yoy), and operating profit was £135m (+2% yoy), both in line with consensus expectations. Outlook for 2018 - H1 organic revenues should be higher than in H1 17, with a modest margin improvement. - Management has confirmed that the improved market conditions in Precision Engineering should continue in 2018. - The full year should benefit from H2 thanks to rationalising savings and normal seasonality.