CORRECTED-Engineer IMI's profit rises on strong orders from petchem market

Thu Mar 6, 2014 5:19am EST

(Corrects second paragraph to say company expects lower margins for the first half of 2014, not full year)

March 6 (Reuters) - British engineer IMI Plc said adjusted pretax profit for the full year rose 8 percent boosted by a surge in orders in its severe service division, which caters mainly to the energy market.

The company, a specialist in fluid control systems such as valves for process flow for power, nuclear, oil & gas and petrochemical plants, expects margins in the first half of 2014 to be slightly lower than the corresponding half last year.

Pretax profit for the year ended Dec. 31 increased to 321.6 million pounds ($538.1 million). Revenue rose 3 percent to 1.7 billion pounds. ($1 = 0.5977 British Pounds) (Reporting by Aashika Jain in Bangalore; Editing by Gopakumar Warrier)

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