Acquisitions boost Rotork first-half profit
Aug 6 (Reuters) - Britain's Rotork Plc, which makes valve-control systems for the oil, gas and water industries, reported a 12 percent increase in first-half profit helped by acquisitions and higher margins.
The company's order intake rose 9.4 percent during the first half, prompting Rotork to predict further progress as it goes through the year. The company's order book at the end of June was at 208.2 million pounds ($319.2 million), up 15.1 percent from December.
For the six months ended June 30, the company reported a pretax profit on an adjusted basis of 69.4 million pounds, compared with 61.7 million pounds, a year earlier.
On an organic constant currency basis, adjusted pretax profit rose 4 percent.
Revenue on a reported basis rose 12 percent to 276.1 million pounds.
Rotork shares were up 4 percent at 2817 pence at 0713 GMT on the London Stock Exchange. They have gained 6 percent so far this year.
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote