H1 16 revenue came in at £759m (-5% yoy organic), broadly in line with consensus expectations. Operating profit was £96m (-23% yoy). By division: 1) Critical Engineering: H1 16 revenues declined 7% yoy, to £285m; the EBIT margin was 10.8% (vs. 13.9% in H1 15). The order intake fell by 14% yoy, a trend led by Oil & Gas (-25% yoy) and Fossil Power (-26%) and bucked only by the petrochemical segment (+37%) thanks to a PTA contract in China. 2) Precision Engineering: revenue
29 Jul 2016
Guidance 2016 in line with expectations
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Guidance 2016 in line with expectations
IMI plc (IMI:LON) | 1,726 -189.9 (-0.6%) | Mkt Cap: 4,514m
- Published:
29 Jul 2016 -
Author:
Marzio Foa -
Pages:
2
H1 16 revenue came in at £759m (-5% yoy organic), broadly in line with consensus expectations. Operating profit was £96m (-23% yoy). By division: 1) Critical Engineering: H1 16 revenues declined 7% yoy, to £285m; the EBIT margin was 10.8% (vs. 13.9% in H1 15). The order intake fell by 14% yoy, a trend led by Oil & Gas (-25% yoy) and Fossil Power (-26%) and bucked only by the petrochemical segment (+37%) thanks to a PTA contract in China. 2) Precision Engineering: revenue