H1 revenues came in at £765m (-5% yoy, organic -2%), EBIT at £116m (-15% yoy, organic -9%); both figures missed consensus. The net profit was £77m, slightly below consensus. By division: 1) Critical Engineering: organic revenues were down 6% yoy, to £278m, the EBIT margin was 14.7% (vs. 17.2% in H1 14). Orders were -6% yoy (to £292m): the division was affected by low demand in the Nuclear, Petrochemical and Fossil Power markets, but overall Oil & Gas orders (
31 Jul 2015
H1 15 results marked by global capex headwinds
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H1 15 results marked by global capex headwinds
IMI plc (IMI:LON) | 1,726 -189.9 (-0.6%) | Mkt Cap: 4,514m
- Published:
31 Jul 2015 -
Author:
Marzio Foa -
Pages:
2
H1 revenues came in at £765m (-5% yoy, organic -2%), EBIT at £116m (-15% yoy, organic -9%); both figures missed consensus. The net profit was £77m, slightly below consensus. By division: 1) Critical Engineering: organic revenues were down 6% yoy, to £278m, the EBIT margin was 14.7% (vs. 17.2% in H1 14). Orders were -6% yoy (to £292m): the division was affected by low demand in the Nuclear, Petrochemical and Fossil Power markets, but overall Oil & Gas orders (